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Accounting

The following accounts were abstracted from Starr Co.'s unadjusted trial balance at December 31, 2012:
Debit Credit
Accounts receivable $750,000
Allowance for uncollectible accounts 8,000
Net credit sales $3,000,000
Starr estimates that 4% of the gross accounts receivable will become uncollectible. After adjustment at December 31, 2012, what the allowance for uncollectible accounts should have a credit balance of ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947827

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