2 acc company sells goods only on account

/in /by

2017

2018

2019

Credit Sales

$12,400

$11,300

$10,500

Collections on Account (including recoveries of previous write-offs)

8,700

9,700

10,800

Write offs of Accounts Receivable

320

590

620

Recoveries of Previous write-offs

20

45

60

ACC uses percentage of receivable method for estimating uncollectible accounts receivable. Assume that the company estimates that it cannot collect 8.5% of its Accounts Receivables. Assume the beginning balance (January 1, 2017) in Accounts Receivable and Allowance for Doubtful Accounts was 3,200 and 272, respectively.

Calculate Bad Debt expense for 2017, 2018 and 2019. (9 points)

 
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