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Need Help please The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year, $400,000; allowance for

Need Help please

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The following information relates to a company's accounts receivable: gross accounts receivable balance at the beginning of the year, $400,000; allowance for uncollectible accounts at the beginning of the year, $29,000 (credit balance); credit sales during the year, $1,450,000; accounts receivable written off during the year, $20,000; cash collections from customers, $1,350,000. Assuming the company estimates that future bad debts will equal 12% of the year end balance in accounts receivable. 1. Calculate bad debt expense for the year. 2. Calculate the year-end balance in the allowance for uncollectible accounts. 1. Calculate bad debt expense for the year. 2. Calculate the yearend balance in the allowance for uncollectible accounts. Bad debt expense Ending balance

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