QUESTION 39
Stargell had a credit balance of $5,360 in its allowance for uncollectible accounts at 1/1/20.
Based on past experience, 1% of gross accounts receivable have
been uncollectible. During the year, Stargell wrote off $6,660 of
accounts receivable. Gross accounts receivable at 12/31/20 is
$188,000.
What amount should reported as allowance for uncollectible accounts
in the year end balance sheet?
A. |
580. |
|
B. |
$3,180. |
|
C. |
$7,240. |
|
D. |
$1,880. |
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