Question: 3. Cheyenne Co. provides for doubtful accounts based on 2% of gross accounts receivable, The following data are available for 2020. Credit sales during 2020

3. Cheyenne Co. provides for doubtful accounts based on 2% of gross accounts receivable, The following data are available for 2020.

Credit sales during 2020 $ 3,912,600

Bad debt expense 57,110

Allowance for doubtful accounts 1/1/20 16,250

Collection of accounts written off in prior years (customer credit was reestablished) 8,520

Customer accounts written off as uncollectible during 2020 28,190

What is the balance in Allowance for Doubtful Accounts at December 31, 2020?

Allowance for doubtful accounts 12/31/20 $_______________

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