Business, 06.10.2019 09:02 MoneyMike42

At january 1, 20x7, gear co. had a credit balance of $180,000 in its allowance for uncollectible accounts. based on past experience, 3% of gear’s credit sales have been uncollectible. during 20x7, gear wrote off $210,000 of uncollectible accounts. credit sales for 20x7 were $4,500,000. in its december 31, 20x7 balance sheet, what amount should gear report as allowance for uncollectible accounts? a. $135,000
b. $105,000
c. $320,000
d. $210,000

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At january 1, 20x7, gear co. had a credit balance of $180,000 in its allowance for uncollectible acc...

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