Lang Co. uses the percentage of receivables basis to record bad debts expense and concludes that 3% of accounts receivable will become uncollectible....

Lang Co. uses the percentage of receivables basis to record bad debts expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $421,700 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,470.(a)