Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how would i gind the allowance for doughtful accounts balnr at december 31, 2017 using the numbers showed in the above picture? Use the information

how would i gind the allowance for doughtful accounts balnr at december 31, 2017 using the numbers showed in the above picture? image text in transcribed
image text in transcribed
Use the information that follows taken from the unadjusted trial balance and aging schedule of Behrend Company on December 31, 2017 to answer the questions below. All sales are on account. Accounts and related balances at December 31, 2017 before adjustment: Debit Credit $47,000 Accounts receivable $420 Allowance for doubtful accounts 400,000 Sales (all on account) 2,000 Sales returns Aging Schedule of Accounts Receivable: Amount % Uncollectible Age 0-30 days $15,000 2% 30-60 days 18,000 7% Over 60 days 14,000 13% If Behrend uses the aging schedule of accounts receivable to determine bad debts, determine the following: Allowance for Doubtful Accounts balance at December 31, 2017 Ending allowance for uncollectible accounts $ Show Work is REQUIRED for this question: Open Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Edp Auditing A Primer

Authors: Joseph L. Sardinas

1st Edition

0471123056, 978-0471123057

More Books

Students also viewed these Accounting questions