In 2022 the Wildhorse Co. had net credit sales of $960000. On January 1, 2022, the Allowance for Doubtful Accounts had a credit balance of $22500. During 2022, $33600 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 15% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $236000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022?
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In 2022 the Wildhorse Co. had net credit sales of $960000. On January 1, 2022, the Allowance for Dou...
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