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Pirate Piper Ship had the following account title balances as of 12/31/2022. Sales Revenue 800,000 Allowance for Credit Loss 2,300 Credit Accounts Receviable 356,000 a.
Pirate Piper Ship had the following account title balances as of 12/31/2022. | ||||||
Sales Revenue | 800,000 | |||||
Allowance for Credit Loss | 2,300 Credit | |||||
Accounts Receviable | 356,000 |
a. | If the company estimated uncollectibles based on 5% of accounts receivable, what would the uncollectible amount be and what would be reported on the balance sheet? |
b. | If the company estimated uncollectibles based on 3% of sales, what would the uncollectible amount be and what would be reported on the balance sheet? |
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