e percent-of- P% of credits e for Uncolled Consider each of the following two independent situations. 1. Using the percent-of-sales method, calculate the amount of Uncollectible-Account Expense if Apple Corporation estimates its uncollectible-account expense using a rate of 5% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? 2. Now assume that Apple Corporation uses the aging-of-receivables method. Apple Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $22,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Print Done the edit fields a Clear All o see what to study next, go to your Study Plan. o e @ : 9 S5-8 similar to) Question Help Assignments Al the end of the current year before adjusting entries), Apple Corporation had a balance of $90,000 in Accounts Receivable and a credit balance of $13,000 in Allowance for Uncollectible Accounts. Service revenue (all on credit) for the year totaled $490,000 Do Homework Read the requirements Take a Quiz/Test Requirement 1. Using the percent-of-sales method, calculate the amount of Uncollectible Account Expense if Apple Corporation estimates its uncollectible-account expense using a rate of 5% of credit sales. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Apple 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, Enter any number in the edit fields and then click Check Answer. Check Answer 1 part remaining To see what to study next go to your study pun Type here to search ? a