Last year, the Tilden Co. had credit sales in the amount of $470,000, and it had uncollectible accounts in the amount of $4,700. Based on last year, what would the percent of estimated uncollectible accounts be this year?
A) 10%
B) 4%
C) 1%
D) 4.7%

Question

Quizplus · Accepted Answer

The percent of estimated uncollectible accounts is calculated by dividing the amount of uncollectible accounts by the total credit sales. $4,700 / $470,000 = 0.01 or 1%.

Last Year, the Tilden Co