ABC had a credit balance of $325 in its allowance for uncollectible accounts. Based on past experience, 2% of ABC’s credit sales have been uncollectible. During 2018, ABCF wrote off $325 of accounts receivable. Credit sales for 2018 were 9,000. In its 12/31/2018, balance sheet, what amount should ABC report as allowance for uncollectible accounts?

1. $440

2. $245

3. $325

4. $115

Answer rating: 100% (QA)

Answer None of the above Allowance for u... View the full answer