The following information pertains to a company at the end of December.
Credit Sales
Accounts Payable
Accounts Receivable
Allowance for Uncollectible Accounts
Cash Sales
$ 20,000
10,000
11,800
400 credit
20,000
The company uses the aging method and estimates it will not collect 7% of accounts receivable not yet due. The accounts receivable balance of $11,800 consists of $7,500 not yet due, $2,600 up to 30 days past due
Multiple Choice
$400
$1,134
$995
$312