Business, 25.10.2019 23:43 Val03

Ervin company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2021, net credit sales totaled $4,700,000, and the estimated bad debt percentage is 1.70%. no previously written-off accounts receivable were reinstated during 2021. the allowance for uncollectible accounts has a credit balance of $44,000 at the beginning of 2021 and $41,000, after adjusting entries, at the end of 2021. required: 1. what is bad debt expense for 2021 as a percent of net credit sales?

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