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Business, 06.10.2019 09:30 potatocow

Gcm corporation had a 1/1/14 balance in the allowance for doubtful accounts of $25,000. during 2014, it wrote off $18,000 of accounts and collected $5,250 on accounts previously written off. the balance in accounts receivable was $500,000 at 1/1 and $600,000 at 12/31. at 12/31/14, gcm estimates that 5% of accounts receivable will prove to be uncollectible. what should gcm report as its allowance for doubtful accounts at 12/31/14? a. $12,000.b. $12,250.c. $17,250.d. $30,000.

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Gcm corporation had a 1/1/14 balance in the allowance for doubtful accounts of $25,000. during 2014,...

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