Business, 02.03.2020 22:00 SKYBLUE1015
On January 1, 2017, Accounts Receivable and Allowance for Uncollectible Accounts for Darius Company carried balances of $20,000 and $550, respectively. During the year, the company reported $70,000 of credit sales. There were $400 of receivables written off as uncollectible in 2017. Cash collections of receivables amounted to $74,700. The company estimates that it will be unable to collect 5% of the year-end accounts receivable balance. The amount of bad debts expense recognized in the 2017 income statement will be: :
(A) $545
(B) $595
(C) $745
(D) $795
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On January 1, 2017, Accounts Receivable and Allowance for Uncollectible Accounts for Darius Company...
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