Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Blackbe Weygandt, Accounting Principles, 13e 10:10 PM/ Ramaining: 78 min. Exercise 9-06 a-b Sunland Company has accounts receivable of $117,300 at March 31, 2020. Credit
Blackbe Weygandt, Accounting Principles, 13e 10:10 PM/ Ramaining: 78 min. Exercise 9-06 a-b Sunland Company has accounts receivable of $117,300 at March 31, 2020. Credit terms are 2/10, n/30. At March 31, 2020, The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's est Estimated Balance, Percentage March 31 Uncollectible Age of Accounts 2020 2019 78,700 $75,000 4% 7% 23% 52% Current 1-30 days past due 31-90 days past due over 90 days past due 21,200 8,000 8,600 2,400 8,800 1,100 $117,300 $86,500 Determine the total estimated uncollectibles Total estimated uncollectibles 186272 Prepare the adjusting entry at March 31, 2020, to record bad debt expense. (Credit account titles are automatically ind Date Account Titles and Explanation Debit Credit Mar. 31 Bad Debt Expense Allowance for Doubtful Accounts Click if you would like to Show Work for this question: Qen Show Work Blackbe Weygandt, Accounting Principles, 13e 10:10 PM/ Ramaining: 78 min. Exercise 9-06 a-b Sunland Company has accounts receivable of $117,300 at March 31, 2020. Credit terms are 2/10, n/30. At March 31, 2020, The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's est Estimated Balance, Percentage March 31 Uncollectible Age of Accounts 2020 2019 78,700 $75,000 4% 7% 23% 52% Current 1-30 days past due 31-90 days past due over 90 days past due 21,200 8,000 8,600 2,400 8,800 1,100 $117,300 $86,500 Determine the total estimated uncollectibles Total estimated uncollectibles 186272 Prepare the adjusting entry at March 31, 2020, to record bad debt expense. (Credit account titles are automatically ind Date Account Titles and Explanation Debit Credit Mar. 31 Bad Debt Expense Allowance for Doubtful Accounts Click if you would like to Show Work for this question: Qen Show Work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started