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Accounts Receivable has a debit balance of $3,400, and the Allowance for Uncollectible Accounts has a credit balance of $550. A $150 accounts receivable is
Accounts Receivable has a debit balance of $3,400, and the Allowance for Uncollectible Accounts has a credit balance of $550. A $150 accounts receivable is written off. Early the following year, Fisherman wrote off $200 of old receivables as uncollectible. The balance in the Allowance account is now The balance in the Allowance account is now S . Sweet Company uses the aging method to adjust the allowance for uncollectible accounts at the end of the period. At December 31, 2017, the balance of accounts receivable is $245,000 and the allowance for uncollectible accounts has a credit balance of $5,500 (before adjustment). An analysis of accounts receivable produced the following age groups: (Click the icon to view the accounts receivable aging information.) The adjusting entry for bad debt expense was made in the amount of $11,000. What is the amount of the net receivables on the balance sheet? The net receivables on the balance sheet are $ 1. 1 Accounts receivable aging information Current ................$ 60.days past due ........ 180,000 60,000 5,000 245,000 Over 60 days past due.... S
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