Reference no: EM133010211
Question - The following information is from the 2025 records of Fast Lane Racing Gear:
Accounts receivable, December 31, 2025 $43,000 (debit)
Allowance for Bad Debts, December 31, 2025 prior to adjustment 1,800 (debit)
Net credit sales for 2025 177,000
Accounts written off as uncollectible during 2025 18,000
Cash sales during 2025 29,000
Bad debts expense is estimated by the aging-of-receivables method. Management estimates that? $5,000 of accounts receivable will be uncollectible. Calculate the ending balance of Allowance for Bad Debts, after the adjustment for bad debts expense, at December 31, 2025.
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