Corona Company has credit sales of $4.60 million for year 2014.The company estimates that 1.42% of accounts receivable will be uncollectible.On December 31,2014,the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $13,164.Corona prepares a schedule of its December 31,2014,accounts receivable by age.Based on past experience,it estimates the percent of receivables in each age category that will become uncollectible.This information is summarized here:
Assuming the company uses the percent of accounts receivable method,determine the amount that should be recorded for bad debt expense on December 31,2014.
Definitions:
Deductively
A logical method where conclusions are derived from general premises or known facts.
Follow-up Message
A communication sent to check on the status of a previous inquiry or to remind the receiver of an important issue or task.
Human Resources
The department within an organization responsible for recruitment, training, employee relations, and managing workforce policies.
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A specific type of communication intended to achieve a particular goal or response from the receiver.
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