To estimate uncollectible Mira Company applies the percentage of sales basis. During 2020 Mira Company had...

 

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To estimate uncollectible Mira Company applies the percentage of sales basis. During 2020 Mira Company had Sales Revenue of $1,500,000, Sales Retum and Allowance of $200,000, Sales Discount $100,000 and credit sales was 40%. It was estimated that 2% of net credit sales will be uncollectible. On December 31, 2020 AFDA showed a credit balance of $5,000. On January 10, 2021 Mira Company decided to write off $250 from a customer's account. However, on March 31, 2021 the company collected $100 of the amount that was previously written off. Net credit sales is: " O $1,200,000 $600,000 $480,000 $9,600 None of the above To estimate uncollectible Mira Company applies the percentage of sales basis. During 2020 Mira Company had Sales Revenue of $1,500,000, Sales Retum and Allowance of $200,000, Sales Discount $100,000 and credit sales was 40%. It was estimated that 2% of net credit sales will be uncollectible. On December 31, 2020 AFDA showed a credit balance of $5,000. On January 10, 2021 Mira Company decided to write off $250 from a customer's account. However, on March 31, 2021 the company collected $100 of the amount that was previously written off. Net credit sales is: " O $1,200,000 $600,000 $480,000 $9,600 None of the above

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