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What is the Allowance for Doubtful Accounts on December 31, 2020? I' The following data were taken from the records of Gigantic Company forthe year

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What is the Allowance for Doubtful Accounts on December 31, 2020?

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I' The following data were taken from the records of Gigantic Company forthe year ended December 31, 2020: Sales on account 3,600,000 Notes received to settle accounts 400,000 Provision for doubtful accounts 90,000 Accounts receivable determined to be worthless 25,000 Purchase on account 3,900,000 Payments to creditors 3,200,000 Discount allowed by creditors 260,000 Merchandise returned by customers 15,000 Collections received to settle accounts 2,450,000 Notes given to creditors in settlement of accounts 250,000 Merchandise returned to suppliers 70,000 Payments on notes payable 100,000 Discounts taken by customers 40,000 What is the allowance for doubtful accounts on December 31, 2020

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