Reunion Company had a January 1, current year, balance in Allowance for Doubtful Accounts of $7,000 credit.
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Question:
Reunion Company had a January 1, current year, balance in Allowance for Doubtful Accounts of $7,000 credit. The following events required journal entries during the current year:
Apr. 15 Gida Good's account receivable of $2,700 was deemed un-collectible.
July 1 Christopher Claw paid the full amount of his previously written-off-account receivable. The receivable of $4,300 had been written off last year.
Dec. 31 Bad debt expense was estimated to be 2.0% of credit sales for the year,which were $1,375,000.
What amount of allowance for doubtful accounts should appear in the December 31, current year, balance sheet?
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