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Allowance for Doubtful Accounts Has a Debit Balance of $700

question 91

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Allowance for Doubtful Accounts has a debit balance of $700 at the end of the year, before adjustments. Sales for the year amounted to $920,000, sales discounts amounted to $31,200 and sales returns and allowances amounted to $42,300.
-If the uncollectible accounts expense is estimated at 2% of net sales, the balance in the Allowance for Doubtful Accounts after the entry to record estimated losses from uncollectible accounts will be


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