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What amount should be reported as doubtful accounts

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Reference no: EM132636330

The following accounts were abstracted from Namesake Company's unadjusted trial balance on December 31, 2020:

Debit: Accounts receivable 3,000,000

Credit: Allowance for doubtful accounts 10,000 Credit: Net credit sales 8,000,000

Problem 1: The entity estimated that 3% of the gross accounts receivable will be uncollectible. What amount should be reported as doubtful accounts expense for 2020?

a. 240,000

b. 90,000

c. 100,000

d. 80,000

Reference no: EM132636330

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