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During 2017 sales on account were $888000 and collections on account were $520000. Also during 2017 the company wrote off $49500 in uncollectible accounts. An

During 2017 sales on account were $888000 and collections on account were $520000. Also during 2017 the company wrote off $49500 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $342000. Bad debt expense for 2017 is

Question 12 The following information is related to December 31, 2016 balances. Accounts receivable $3380000 Allowance for doubtful accounts (credit) (284000) $2850000 Cash realizable value During 2017 sales on account were $888000 and collections on account were $520000. Also during 2017 the company wrote off $49500 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $342000. Bad debt expense for 2017 is $342000. $8500 0. $1 $58000

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