At the end of the current year (before adjusting entries),

OrangeOrange

Corporation had a balance of

$ 84 comma 000$84,000

in Accounts Receivable and a credit balance of

$ 5 comma 000$5,000

in Allowance for Uncollectible Accounts. Service revenue (all on credit) for the year totaled

$ 430 comma 000$430,000.

Read the requirements

Consider each of the following two independent situations.

1.	Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if OrangeOrange Corporation estimates its uncollectible-account expense using a rate of 33% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario?
2.	Now assume that OrangeOrange Corporation uses the aging-of-receivables method. OrangeOrange Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $ 15 comma 000$15,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario?

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.Requirement 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if

OrangeOrange

Corporation estimates its uncollectible-account expense using a rate of

33%

of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario?

Orange Corporation has $		of uncollectible-account expense using the percent-of-sales method. The ending
balance of the Allowance for Uncollectible Accounts is $				under this scenario.

Requirement 2. Now assume that

OrangeOrange

Corporation uses the aging-of-receivables method.

OrangeOrange

Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of

$ 15 comma 000$15,000.

Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario?

Orange Corporation has $		of uncollectible-account expense using the aging-of-receivables method. The ending
balance of the Allowance for Uncollectible Accounts is $				under this scenario.

At the end of the current year before adjusting entries), Orange Corporation had a balance of $84,000 in Accounts Receivable and a credit balance of $5,000 in Allowance for Uncollectible Accounts. Service revenue (all on credit) for the year totaled $430,000 Read the requirements. Requirement 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Orange Corporation estimates its uncollectible-account expense using a rate of 3% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Orange Corporation has $ L o f uncollectible-account expense using the percent-of-sales method. The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario. Requirement 2. Now assume that Orange Corporation uses the aging-of-receivables method. Orange Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $15,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Orange Corporation has $ of uncollectible-account expense using the aging-of-receivables method. The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario. * Requirements - X Consider each of the following two independent situations. 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Orange Corporation estimates its uncollectible-account expense using a rate of 3% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? 2. Now assume that Orange Corporation uses the aging-of-receivables method. Orange Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $15,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Print Done