Swifty Corporation had a 1/1/20 balance in the Allowance for Doubtful Accounts of $35500. During 2020, it wrote off $23000 of accounts and collected $8000 on accounts previously written off. The balance in Accounts Receivable was $780000 at 1/1 and $960000 at 12/31. At 12/31/20, Swifty estimates that 5% of accounts receivable will prove to be uncollectible. What should Swifty report as its Allowance for Doubtful Accounts at 12/31/20

$48,000

Explanation:

What should Swifty report as its Allowance for Doubtful Accounts at 12/31/20?

Allowance for Doubtful Accounts 12/31/20 = Accounts receivable at 12/31 * Uncollectible percentage of Accounts receivable

Allowance for Doubtful Accounts 12/31/20 = $960,000 * 5%

Allowance for Doubtful Accounts 12/31/20 = $48,000

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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