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wellington corp. has outstanding accounts receivable totaling $6 million as of December 31. sales on credit during the year were $30 million. there is also
wellington corp. has outstanding accounts receivable totaling $6 million as of December 31. sales on credit during the year were $30 million. there is also a debit balance of $24,000 in the allowance for doubtful accounts. if the company edtimates that 8% of its oustanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense?
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