LO 5 Calistoga Produce estimates bad debt expense at 0.30 % of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $489,000 and $1,470 respectively, at December 31, 2023. During 2024, Calistoga's credit sales and collections were $335,000 and $306.000, respectively, and $1,870 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2024, is: Multiple Choice O O O O $605. $1,255 $1,490. $510.

LO 5 Calistoga Produce estimates bad debt expense at 0.30 % of credit sales. The company reported accounts receivable and allowance for uncollectible accounts of $489,000 and $1,470 respectively, at December 31, 2023. During 2024, Calistoga's credit sales and collections were $335,000 and $306.000, respectively, and $1,870 in accounts receivable were written off. Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2024, is: Multiple Choice O O O O $605. $1,255 $1,490. $510.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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