Blossom Corporation operates in an industry that has a high rate of bad debts. Before any yearend adjustments, the balance in Blossom's Accounts Receivable account was $ and Allowance for Doubtful Accounts had a credit balance of $ The yearend balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below.
tableDays Account Outstanding,Amount,tableProbability ofCollectionLess than days,$Between and days,Between and days,Between and days,Between and days,Over days to be written off
a
What is the appropriate balance for Allowance for Doubtful Accounts at yearend?
Balance for allowance for doubtful accounts
