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Hop-Light Brewery had the following Aged Accounts Receivable and estimated uncollectible percentages at year end: Before the year-end adjustment, the credit balance in Allowance for
Hop-Light Brewery had the following Aged Accounts Receivable and estimated uncollectible percentages at year end: Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,850. 1. Under the aging-of-receivables method, calculate the year-end balance in the Allowance for Uncollectible Accounts. 2. Given total credit sales of $3,490,000, and an estimate that 1.52% of credit sales will be uncollectible, what would the year-end balance for the Allowance for Uncollectible Accounts be if Hop-Light Brewery used a percent-of-sales method? 3. What is Hop-Light Brewery's accounts receivable turnover in days
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