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| Ward Co. estimates its uncollectible accounts expense to be 2% of credit sales. Ward’s credit sales for year 1 were $1,000,000. During year 1, Ward wrote off $18,000 of uncollectible accounts. Ward’s allowance for uncollectible accounts had a $15,000 balance on January 1, year 1. In its December 31, year 1 income statement, what amount should Ward report as uncollectible accounts expense? A. $20,000 B. $17,000 C. $23,000 D. $18,000 |