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Crimson Inc. recorded credit sales of $724,000, of which $510,000 is not yet due, $140,000 is past due for up to 180 days, and $74.000
Crimson Inc. recorded credit sales of $724,000, of which $510,000 is not yet due, $140,000 is past due for up to 180 days, and $74.000 is post due for more than 180 days. Under the aging of receivables method, Crimson Inc. expects it will not collect 1% of the amount not yet due, 17% of the amount past due for up to 180 days, and 26% of the amount past due for more than 180 days. The allowance account hod a debit balance of $2,700 before adjustment. After adjusting for bad debt expense, what is the ending balance of the allowance account? Multiple Choice $5,100 $50,840 $57.240 $48,140
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