Question: (Appendices) AVERAGE UNCOLLECTIBLE ACCOUNT LOSSES AND UNCOLLECTIBLE ACCOUNT EXPENSE. The accountant for Porile Company prepared the following data for sales and uncollectible account losses: LO8

(Appendices) AVERAGE UNCOLLECTIBLE ACCOUNT LOSSES AND UNCOLLECTIBLE ACCOUNT EXPENSE. The accountant for Porile Company prepared the following data for sales and uncollectible account losses: LO8 REQUIRED:

1. What is the weighted average percentage of uncollectible account losses for 19x4 through 19x7?

2. Assume that the credit sales for 19x8 are $874,000 and that the weighted average percentage calculated in (1) is used as an estimate of uncollectible account losses for 19x8 credit sales. Determine the uncollectible account expense for 19x8 using the credit sales method.

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