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Patrick Company had the following information in 2014

Accounts receivable 12/31/14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $8,000
Allowance for uncollectible account 12/31/14 (before adjustment). . . . . . . 1,100
Credit sales during 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000
Cash sales during 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,000
Collections from customers on account during 2014. . . . . . . . . . . . . . . . . . 47,000

Uncollectible accounts are determined by the? percent-of-sales method to be 44?% of credit sales. How much is? uncollectible-account expense for 2014?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92793923

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