(Appendix) AGING RECEIVABLES AND UNCOLLECTIBLE ACCOUNT EXPENSE. Perkinson Corporation sells paper products to a large number of...
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(Appendix) AGING RECEIVABLES AND UNCOLLECTIBLE ACCOUNT EXPENSE. Perkinson Corporation sells paper products to a large number of retailers. Perkinson’s accountant has prepared the following aging schedule for its accounts receivable at the end of the year:LO7 Before adjusting entries are entered, the balance in the allowance for uncollectible accounts is a debit of $7,213.
REQUIRED:
1. What is the desired postadjustment balance in Perkinson’s allowance for uncollectible accounts?
2. Determine uncollectible account expense for the year.
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