Ornate Inc. ended 20X3 with $400 in allowance for bad debts.
In 20X4, Ornate wrote off $360 in accounts receivable that appear to be uncollectible
. At the end of 20X4, Ornate recorded bad debt expense of $330.
What is the balance in the allowance for doubtful accounts at the end of 20X4?
1. $370 2. $730 3. $60 4. $690