Marston Company has outstanding accounts receivable totaling €4.5 million as of December 31 and sales on credit during the year of €20 million. There is also a credit balance of €18,000 in the allowance for doubtful accounts. After aging its receivables, the company estimates that 2% of its receivables will be uncollectible. 

What will be the balance for the Allowance for Uncollectible Accounts after the year-end adjustment is made to record bad debt expense?

Answer rating: 100% (QA)

To calculate the bad debt expense and the new balance for the Allowance for Uncollect... View the full answer