starting 1/1/2013 Pyro Inc. had a credit balance of $260,000 in its allowance for uncollectible...
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starting 1/1/2013 Pyro Inc. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Pyro Inc.s credit sales have been uncollectible. During 2013, Pyro Inc. wrote off $325,000 of uncollectible accounts. Credit sales for 2013 were $9,000,000.
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On 12/31/13, what amount should Pyro Inc. report on its Balance Sheet as Allowance for Uncollectible Accounts?
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