Reference no: EM132494237
Question - The accounting records of Belgrade Company provided the following data for 2016 from its unadjusted trial balance:
Accounts receivable, Jan. 1, 2016: $180,000
Allowance for uncollectible accounts, Jan. 1, 2016: 8,000 credit
Cash sales during 2016: 1,200,000
Credit sales during 2016: 1,000,000
Cash collections from credit sales during 2016: 760,000
Accounts written off as uncollectible during 2016: 5,000
On December 31, 2016, the firm's fiscal year end, Belgrade determined that 2% of the ending balance in accounts receivable would be uncollectible. What is the Belgrade's bad debt expense for 2016?
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