Question

XYZ Company uses an allowance method to account for bad debts. It estimates that 5% of the accounts receivable will be uncollectible. At the end of the year, there is an accounts receivable balance of $750,000, and a debit balance in the Allowance for Uncollectible Accounts of $9,000. What is uncollectible accounts expense for the reporting period?

Answer 1

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