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Corona Company Has Credit Sales of $4

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Corona Company has credit sales of $4.60 million for year 2014.The company estimates that 1.42% of accounts receivable will be uncollectible.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:
Corona Company has credit sales of $4.60 million for year 2014.The company estimates that 1.42% of accounts receivable will be uncollectible.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 uses the percent of accounts receivable method,determine the amount that should be recorded for bad debt expense on December 31,2014. Assuming the company uses the percent of accounts receivable method,determine the amount that should be recorded for bad debt expense on December 31,2014.

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$1,038,550 x .0142 =...

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