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Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $472,000 and $1,650 respectively, at December 31, 2023. During 2024, Calistoga's credit sales and collections were $325,000 and $305,000, respectively, and $1,820 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2024, is:

Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $472,000 and $1,650 respectively, at December 31, 2023. During 2024, Calistoga's credit sales and collections were $325,000 and $305,000, respectively, and $1,820 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2024, is:

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4PA: Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The...
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Calistoga Produce estimates bad debt expense at 0.50% of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $472,000 and $1,650 respectively, at December 31, 2023. During 2024, Calistoga's credit sales and collections were $325,000 and $305,000, respectively, and $1,820 in accounts receivable were written off.

Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2024, is:

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