Question: 12A company had the following account balances at December 31: Accounts receivable $ 900,000 Allowance for uncollectible accounts (before any provision for the year uncollectible accounts expense) 16,000 Credit sales for the year 1,750,000 The company is considering the following methods of estimating uncollectible accounts expense for the year: Based on credit sales at 2% Based on accounts receivable at 5% What amount should the company charge to uncollectible accounts expense under each method? Percentage of Percentage of Credit Sales Accounts Receivable