Wellington corp. has outstanding accounts receivable totaling $3 million as of december 31 and sales on credit during the year of $15 million. there is also a debit balance of $12,000 in the allowance for doubtful accounts. if the company estimates that 8% of its outstanding receivables will be uncollectible, what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense? $1, 200,000. $ 228,000. $ 240,000. $ 252,000.

Balance in Allowance for Doubtful accounts = $228,000

Explanation:

Outstanding Accounts Receivable                $3,000,000

(x) Percentage uncollectible                                        8%        

(=) Allowance for Doubtful accounts                  $240,000

(-) Debit balance                                                          $12,000

(=) Balance in Allowance for Doubtful accounts    $228,000

Hope this helps!

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%