Question: Question Completion Status: QUESTION 1 This information is used for questions 1 and 2: On January 1, Year 2, Plymouth Company had a $16,000 balance
Question Completion Status: QUESTION 1 This information is used for questions 1 and 2: On January 1, Year 2, Plymouth Company had a $16,000 balance in Accounts Receivable and a $1,000 balance in Allowance for Doubtful Accounts. During Year 2, Plymout provided $105,000 of service on account. The company collected $95,000 cash from accounts receivables. Uncollectable accounts are estimated to be 2% of sales on account. What is the amount of uncollectible accounts expense recognized in Year 2? QUESTION 2 On January 1, Year 2, Plymouth Company had a $16,000 balance in Accounts Receivable and a $1,000 balance in Allowance for Doubtful Accounts. During Year 2, Plymout provided $105,000 of service on account. The company collected $95,000 cash from accounts receivables. What is the amount of uncollectible accounts expense recognized in Year 2 if Plymouth estimates 5% of ending accounts receivable will not be collected
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