McGlone Corporation had a 1\1\10 balance in the Allowance for Doubtful Accounts of $15,000.During 2010, it wrote off $10,800 of accounts and collected $3,150 on accounts previously written off.The balance in Accounts Receivable was $300,000 at 1\1 and $360,000 at 12\31.At 12\31\10, McGlone estimates that 5% of accounts receivable will prove to be uncollectible.What should McGlone report as its Allowance for Doubtful Accounts at 12\31\10?

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The Answer of McGlone Corporation had a 1\1\10 balance in the Allowance for Doubtful Accounts of $15,000.During 2010, it wrote off $10,800 of accounts and collected $3,150 on accounts previously written off.The balance in Accounts Receivable was $300,000 at 1\1 and $360,000 at 12\31.At 12\31\10, McGlone estimates that 5% of accounts receivable will prove to be uncollectible.What should McGlone report as its Allowance for Doubtful Accounts at 12\31\10?

McGlone Corporation Had a 1\1\10 Balance in the Allowance for Doubtful