Estimated uncollectible accounts expense for the year, Ask an Expert

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The balance of the Allowance for Doubtful Accounts account at January 1 of the current year was $6,800. During the year, accounts receivable in the amount of $9,000 were written off. Estimated uncollectible accounts expense for the year amounts to $7,200, based on the percentage of sales approach. How much is the balance of the Allowance for Doubtful Accounts account to be reported on the statement of financial position at year-end?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M957138

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