QUESTION 39 Stargell had a credit balance of $5,360 in its allowance for uncollectible accounts at...

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.

Expert Solution

ekkarill92 answered 1 year ago

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