Using the following information: 
During 2011, sales on account were €290,000 and collections on account were €172,000.Also during 2011, the company wrote off €16,000 in uncollectible accounts.An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at €108,000. Bad debts expense for 2011 is
Definitions:
Periodic Interest Rate
The amount of interest charged or earned over a particular period of time, often expressed as a rate per month or quarter.
Compounded Annually
Interest calculation method where interest is added to the principal sum once per year, leading to an increase in the amount of subsequent interest.
Periodic Interest Rate
The amount of interest charged or earned over a specific period, often expressed as a percentage of the principal.
Payment Interval
The standard interval at which payments are made on a loan or investment, like monthly or yearly.
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