Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 Becky had net sales on account) in 2020 of 38.000.000 AL December 31, 2020. before adjusting entries, the balances in selected accounts were sccounts

image text in transcribed
1 Becky had net sales on account) in 2020 of 38.000.000 AL December 31, 2020. before adjusting entries, the balances in selected accounts were sccounts receivable $1.000.000 abitand aliwe for coutul account $2.000 abit Becky estimates that 3% of its accounts receivable will prove to be uncollectible. What the net amount expected to be collected of the recolvables reported on the financial statements at December 31, 2020 $32,000 5972.000 S6000 1970.000 2 Wettington Corp has outstanding accounts receivable totaling $127 milions of December 31 and sales on credit curing the year of 864 milion There is also a debit balance of $6.000 in the allowance for dove accounts. If the company estimates that 24 controlvatie wil bounceble what will be the balance in the allowance for doubt accounts after the year and adjustment to record bad det #$10.400 $31.400 525.400 a Wellington Corp han outstanding accounts receivable totaling milions of December 51 and was on creat during the year of $24 milion. There is to credit balance of 312,000 in the lowance for doubtful accounts, if the company estimates that % of its outstanding receivables will be uncollectie wat wil be the amount of bad debt expense ed for the year? 400.000 10.000 601440,000 d378.000 . Welinton Corp houtstanding our recevable totalingsmonan of December 31 and is on credit nie waar of 130 milion There is a detit balance of

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions