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Calistoga Produce estimates bad debt expense at 12% of credit sales. The company ...

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Accounting

Calistoga Produce estimates bad debt expense at 12% of credit sales. The company
reported accounts receivable and allowance for uncollectible accounts of $471,000 and
$1,650, respectively, at December 31,2020. During 2021, Calistoga's credit sales and
collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable
were written off.
Calistoga's accounts receivable at December 31,2021, are:
A) $467,000.
B) $473,280.
(C) $465,280.
D) $469,280.
Calistoga Produce estimates bad debt expense at 12% of credit sales. The company
reported accounts receivable and allowance for uncollectible accounts of $471,000 and
$1,650, respectively, at December 31,2020. During 2021, Calistoga's credit sales and
collections were $315,000 and $319,000, respectively, and $1,720 in accounts receivable
were written off.
Calistoga's 2021 bad debt expense is:
A) $1,720.
B) $1,650.
C) $1,505.
(D) $1,575.
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