Dynamic Limited had credit sales of $675,000 for March. Accounts receivable of $6,000 were determined to be worthless and were written off during March. Accounts receivable total $575,000 at March 31. Management feels that based on past experience, approximately 2% of net credit sales will prove to be uncollectible.
-Refer to the above data. Assuming Dynamic Limited uses the income statement approach (an allowance method) to account for uncollectible accounts, uncollectible accounts expense for March is:

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The Answer of  Dynamic Limited had credit sales of $675,000 for March. Accounts receivable of $6,000 were determined to be worthless and were written off during March. Accounts receivable total $575,000 at March 31. Management feels that based on past experience, approximately 2% of net credit sales will prove to be uncollectible.
-Refer to the above data. Assuming Dynamic Limited uses the income statement approach (an allowance method) to account for uncollectible accounts, uncollectible accounts expense for March is:

Dynamic Limited Had Credit Sales of $675,000 for March