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Waterway Industries had a 1/1/20 balance in the Allowance for Doubtful Accounts of S 20000. During 2020. it wrote of $ 152000 accounts and collected
Waterway Industries had a 1/1/20 balance in the Allowance for Doubtful Accounts of S 20000. During 2020. it wrote of $ 152000 accounts and collected $ 4420 on accounts previously written off. The balance in Accounts Receivable was 5410000 at 1/1 and $ 500000 at 12/31. At 12/31/20, Waterway estimates that 6% of accounts receivable will prove to be uncollectible. What should Waterway report as Its Allowance for Doubtful Accounts at 12/31/20? $14740 O $ 30000 O $19160 O $ 9160
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