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A yearend review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding Accounts Receivable Est. Percent Uncollectible 130 days $60,000 2% 3160
A yearend review of Accounts Receivable and estimated uncollectible percentages revealed the following:
Days Outstanding | Accounts Receivable | Est. Percent Uncollectible |
130 days | $60,000 | 2% |
3160 days | $43,000 | 5% |
6190 days | $22,000 | 10% |
Over 90 days | $5,000 | 50% |
Before the yearend adjustment, the credit balance in Allowance for Uncollectible Accounts was $900.
Under the agingofreceivables method, the balance in the Allowance for Uncollectible Accounts will be ________ after the adjusting entry is made.
A. $7,150
B. $8,050
C. $300
D. $8,950
A year - end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Accounts Est. Percent Days Outstanding Receivable Uncollectible 1 - 30 days $60,000 2% 31-60 days $43,000 5% $22,000 10% 61 - 90 days Over 90 days $5,000 50% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $900. Under the aging-of-receivables method, the balance in the Allowance for Uncollectible Accounts will be entry is made. after the adjustingStep by Step Solution
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