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Use the following information to answer the next 3 questions: On January 1, 2019, a company's Accounts Receivable balance was $100,000, and the balance in
Use the following information to answer the next 3 questions: On January 1, 2019, a company's Accounts Receivable balance was $100,000, and the balance in the Allowance for Doubtful Accounts was a credit balance of $5,000. During 2019, the company recorded the following transactions: Credit Sales Collections from customers Accounts written-off Collections on accounts previously written off $130,000 $110,000 $2.000 $1,000 7. Determine the ending accounts receivable balance. A. S118,000 B. $117,000 C. $119,000 D. $78,000 E. $121,000 8. If the Company estimates 4% of receivables to be uncollectible, the bad debt expense for 2019 would be A. $4,720 B. $720 C. $4,000 D. $160 E. $4,800 9. If instead, the Company estimates 1% of credit sales to be uncollectible, the bad debt expense for 2019 would be A $200 B. $1,100 C. $1,200 D. $1,180 E. $1,300
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