Essay
Corona Company has credit sales of $4.60 million for year 2014.On December 31,2014,the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $13,164.Corona prepares a schedule of its December 31,2014,accounts receivable by age.Based on past experience,it estimates the percent of receivables in each age category that will become uncollectible.This information is summarized here:
Assuming the company used the aging of accounts receivable method,determine the amount that should be recorded for bad debt expense on December 31,2014.
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