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Flyer Company has provided the following information prior to any year-end bad debt adjustment: - Cash sales, $164,000 - Credit sales, $464,000 - Selling and
Flyer Company has provided the following information prior to any year-end bad debt adjustment: - Cash sales, \$164,000 - Credit sales, \$464,000 - Selling and administrative expenses, \$124,000 - Sales returns and allowances, $44,000 - Gross profit, \$504,000 - Accounts receivable, $245,000 - Sales discounts, $28,000 - Allowance for doubtful accounts credit balance, $2,600 Flyer prepares an aging of accounts receivable and the result shows that 3% of accounts receivable is estimated to be uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded? Multiple Choice $9,950. $7,350. $4,672. $4,750
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