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Pans on Fire, Inc., had the following account balances at the end of the year before adjustments: Accounts Receivable $60,000 Allowance for Doubtful Accounts $200

Pans on Fire, Inc., had the following account balances at the end of the year before adjustments:

Accounts Receivable

$60,000

Allowance for Doubtful Accounts

$200 credit balance

Net Sales

$600,000

Doubtful Accounts Expense

$0

Management estimates that 11% of accounts receivable will be uncollectible. After the correct adjusting entry has been made, what is the total Allowance for Doubtful Accounts on the balance sheet at year end?

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