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In 2020, Swifty Company had net credit sales of $ 1124100. On January 1, 2020, Allowance for Doubtful Accounts had a credit balance of $
In 2020, Swifty Company had net credit sales of $ 1124100. On January 1, 2020, Allowance for Doubtful Accounts had a credit balance of $ 26400. During 2020, $ 42900 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $ 375400, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2020?
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