Pritika V.

asked • 01/29/22

accounting business

StorageTek Corporation gathered the following information from its accounting records for the year ended December 31, 2016, prior to adjustment:

Net credit sales for the year = $1,150,000

Accounts Receivable (Dec 31, 2016) = $93,000

Allowance for Uncollectible Accounts, prior to adjustment (Dec 31, 2016) = $6,000 debit balance

StorageTek Corporation uses the allowance method of accounting for bad debts and estimates bad debts at 3% of net credit sales.


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