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The following information pertains to Lightning Inc, at the end of the year Credit Sales Accounts Payable Accounts Receivable Allowance for Uncollectible Accounts Cash Sales
The following information pertains to Lightning Inc, at the end of the year Credit Sales Accounts Payable Accounts Receivable Allowance for Uncollectible Accounts Cash Sales $71,000 12,100 6,900 $ 1,300 credit 27,000 Lightning uses the percentage-of-credit-sales method and estimates 1% of soles are uncollectible. What is the ending balance of the allowance account after the year-end adjustment? Multiple Choice $710 $ 590 $2.280 o $2,010
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