In 2014 the golic co. had net credit sales of $600,000. on january 1, 2014, the allowance for doubtful accounts had a credit balance of $15,000. during 2014, $24,000 of uncollectible accounts receivable were written off. past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis). if the accounts receivable balance at december 31 was $160,000 what is the required adjustment to the allowance for doubtful accounts at december 31, 2014?

what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2014?

Expense doubtful  16000  

Allowance Doubtful  16000  

Explanation:

Credit Sales600000    

Doubtful15000    

Writte Off24000    

AR160000    

Doubtful AccountsJan-115000  

Uncollective account  15000900024000

 0  

AR            160000    

            10%    

Doubtful       16000    

Expense doubtful  16000  

Allowance Doubtful  16000  

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