Willis Company Had $200,000 in Credit Sales for Year 1,and

True/False

Willis Company had $200,000 in credit sales for Year 1,and it estimated that 2% of the credit sales would not be collected.The balance in Accounts Receivable at the end of the year was $38,000.Willis had never used the allowance method to account for its receivables until Year 1.The net realizable value of its accounts receivable at the end of the year was $34,000.