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Kelton Incorporated reported net credit sales of $498,000 for the current year. The unadjusted credit...

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Accounting

Kelton Incorporated reported net credit sales of $498,000 for the current year. The unadjusted credit balance in its Allowance for Doubtful Accounts is $830. The company has experienced bad debt losses of 1% of credit sales in prior periods. Using the percentage of credit sales method, what amount should the company record as the estimated Bad Debt Expense?

Multiple Choice

  • $2,490

  • $5,810

  • $4,980

  • $3,320

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