During May the Patel Corporation recorded cash sales of $200,000 and credit sale

Question

During May the Patel Corporation recorded cash sales of $200,000 and credit sales of $350,000. Based on its experience the company expects to be unable to collect 6% of its credit sales. On May 31 the Corporation's balance sheet reported balances in many accounts, including the following $79,00 $89,00 ($9,000 $4,10 ($36,000 as ccounts receivable llowance for uncollectible ccounts upplies ccounts pavable Calculate the dollar amount of the Corporation's May uncollectible accounts expense a. $33,000 b. $21,000 c. $9,000 d. $80,000

Explanation / Answer

b $21,000 Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Credit Sales                  350,000.00 Allowance for uncollectible Accounts = 350,000*6%                     21,000.00

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