Question: PROBLEMS Problem 7-1 Allowance Method for Accounting for Bad Debts At the beginning of 2016, EZ Tech Company's Accounts Receivable balance was $140,000 the balance

PROBLEMS Problem 7-1 Allowance Method for Accounting for Bad Debts At the beginning of 2016, EZ Tech Company's Accounts Receivable balance was $140,000 the balance in Allowance for Doubtful Accounts was $2,350 (Cr.). EZ Tech's sales in 2016 $1,050,000, 80% of which were on credit. Collections on account during the year $670,000. The company wrote off $4,000 of uncollectible accounts during the year

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