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What is the balance is allowance for doubtful accounts

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Question - The financial statements for Anne Teak's Knick Knack Store show the following balances as of December 31, 2014:

Cash Sales: $1,500,000

Credit Sales: $6,800,000

Sales Returns and Allowance: $85,000

Sales Discounts: $228,000

Accounts Receivable: $1,900,000

Allowance for Doubtful Accounts: $54,000 (Credit)

Notes Receivable: $320,000

An aging of accounts receivable indicates that $186,000 is expected to become uncollectible as of December 31, 2014. If the percentage of receivables method is used, what is the balance is Allowance for Doubtful Accounts after any adjustment is made?

Reference no: EM132097855

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