Exercise 9-4: Determining Credit Loss Expense (LO9-1)The following information is available for Fess Company:Credit sales during 20x1: 150,000Allowance for credit losses December 31, 20x0:1,450Accounts receivable deemed worthless and written off during 20x1: 1,800During 20X1, Fess estimated that its credit loss expense should be 1% of all credit sales.As a result of a review and aging of accounts receivable in early January 20X2, it has been determined that an allowance for credit losses of1,600
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