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In 2017, the Dugan Co. had net credit sales of $1,500,000. On January 1, 2017,...

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Accounting

In 2017, the Dugan Co. had net credit sales of $1,500,000. On January 1, 2017, Allowance for Doubtful Accounts had a credit balance of $32,000. During 2017, $60,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivable basis). If the accounts receivable balance at December 31 was $400,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017?Bottom of Form

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