Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Carla Vista Co. has accounts receivable of $92,600 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,154
Carla Vista Co. has accounts receivable of $92,600 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,154 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2022 2021 Current $60,500 14,000 $77,250 7,550 1-30 days past due 2,370 31-90 days past due Over 90 days past due 10,100 8,000 $92,600 1,170 $88,340 (a) Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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