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What is the amount of uncollectible account expense

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Reference no: EM133122394

Question - Gordon Portrait Studio had the following: (Use this data for the next few problems)

Accounts Receivable at March 31, 2020 $7,000.00

Allowance for Doubtful Accounts (Credit Balance) $1,000.00

Net Sales (85% on Credit) $80,000.00

Required - What is the amount of uncollectible account expense for 2020 if the company uses the Percentage of Sales method and 2% of credit sales are deemed uncollectible? SHOW YOUR WORK.

Reference no: EM133122394

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