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Business, 05.08.2019 22:20 cmsanchez007

On january 1, putnam wholesale company's allowance for doubtful accounts had a credit balance of $21,000. during the year, it had net credit sales of $800,000 and it had $25,000 of uncollectible accounts receivable that were written off. past experience indicates that the allowance should be 8% of the balance in receivables (percentage-of-receivables basis). if the accounts receivable balance at december 31 is $300,000, what is the required credit adjustment to the allowance for doubtful accounts at december 31?

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