Barton Corporation uses the percent of receivables method.As of December 31,Year 1,prior to estimating uncollectible accounts expense,Barton's balance of accounts receivable was $68,900,the balance of allowance for doubtful accounts was $2,500,and total sales for Year 1 were $875,000.On December 31,Barton aged its receivables and determined the following:

Indicate whether each of the following statements is true or false.

Question

Barton Corporation uses the percent of receivables method.As of December 31,Year 1,prior to estimating uncollectible accounts expense,Barton's balance of accounts receivable was $68,900,the balance of allowance for doubtful accounts was $2,500,and total sales for Year 1 were $875,000.On December 31,Barton aged its receivables and determined the following:
  
Indicate whether each of the following statements is true or false.

Quizplus · Accepted Answer

The Answer of Barton Corporation uses the percent of receivables method.As of December 31,Year 1,prior to estimating uncollectible accounts expense,Barton's balance of accounts receivable was $68,900,the balance of allowance for doubtful accounts was $2,500,and total sales for Year 1 were $875,000.On December 31,Barton aged its receivables and determined the following:
  
Indicate whether each of the following statements is true or false.

Barton Corporation Uses the Percent of Receivables Method