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Uncollectible accounts are determined by the

Problem -

Neal Company had the following information in 2014.

Accounts receivable 12/31/14 - $13,000

Allowance for uncollectible account 12/31/14 (before adjustment) - 750

Credit sales during 2014 - 37,000

Cash sales during 2014 - 9,000

Collections from customers on account during 2014 - 43,000

Uncollectible accounts are determined by the percent-of-sales method to be 2% of credit sales. How much is uncollectible-account expense for 2014?

A) 920

B) 750

C) 740

D) 260

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Accounting Basics: Uncollectible accounts are determined by the

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