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a. What amount of bad debts expense does Barber report on its income statement for the year? Aging schedule at December 31 Amt. Owed Est.
| a. | What amount of bad debts expense does Barber report on its income statement for the year? | ||||||||||
| Aging schedule at December 31 | |||||||||||
| Amt. Owed | Est. Uncollectible | ||||||||||
| Current | |||||||||||
| 0-60 days past due | |||||||||||
| 61-180 days past due | |||||||||||
| Over 180 days past due | |||||||||||
| Total | |||||||||||
| Open Bal. in allowance a/c | |||||||||||
| New Provision | = 2019 bad debts expense | ||||||||||
| b. | Show how Barbers December 31 balance sheet will report the accounts receivable and the allowance for uncollectible accounts | ||||||||||
| Current Assets | |||||||||||
| Accounts receivable | |||||||||||
| Less allowance for uncollectible accounts | |||||||||||
| Net Accounts Receivable | |||||||||||
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
9781285586618
