eBook Print Question 1 Answer saved Marked out of 7.50 Remove flag Estimating Uncollectible Accounts and Reporting Receivables over Multiple Periods Barth Company, which has been in business for three years, makes all of its sales on credit and does not offer cash discounts. Its credit sales, customer collections, and write-offs of uncollectible accounts for its first three years follow: Accounts Year Sales Collections Written Off 2015 $1,126,500 $1,099,500 2016 1,314,000 1,296,000 2017 1,458,000 1,407,000 $7,950 8,700 9,750 Barth uses the allowance method of recognizing credit losses that provides for such losses at the rate of 1% of sales. (This means the allowance account is increased by 1% of credit sales regardless of any write-offs and unused balances.) What amount for accounts receivable (gross) is reported on its balance sheet at the end of 2017? $ 0 What total amount of bad debts expense appears on its income statement for each of the three years? 2015 $ 12,650 2016 $ 13,140 2017 $ 14,580 What amount for allowance for uncollectible accounts is reported on its balance sheet at the end of 2017? $ 0 Question Answer saved Marked out of 7.50 Remove flag Estimating Uncollectible Accounts and Reporting Receivables over Multiple Periods Barth Company, which has been in business for three years, makes all of its sales on credit and does not offer cash discounts. Its credit sales, customer collections, and write-offs of uncollectible accounts for its first three years follow: Accounts Year Sales Collections Written Off 2015 $1,126,500 $1,099,500 2016 1,314,000 1,296,000 2017 1,458,000 1,407,000 $7,950 8,700 9,750 Barth uses the allowance method of recognizing credit losses that provides for such losses at the rate of 1% of sales. (This means the allowance account is increased by 1% of credit sales regardless of any write-offs and unused balances.) What amount for accounts receivable (gross) is reported on its balance sheet at the end of 2017? $ 0 What total amount of bad debts expense appears on its income statement for each of the three years? 2015 $ 12,650 2016 $ 13,140 2017 $ 14,580 What amount for allowance for uncollectible accounts is reported on its balance sheet at the end of 2017? $ 0 eBook Pri