Question
Joshua company had the following information in 2016. Accts Rec 12/31/16.....$15000 Allowance for uncollected account 12/31/16 (before adjustment).....$950 credit service revenue during 2016.....$45000 Cash service
Joshua company had the following information in 2016.
Accts Rec 12/31/16.....$15000
Allowance for uncollected account 12/31/16 (before adjustment).....$950
credit service revenue during 2016.....$45000
Cash service revenue during 2016.....$15000
Collections from customers on account during 2016.......$45000
If uncollectible accounts are determined by the aging-of-receivables method to be $ 1 240, the uncollectible account expense for 2016 would be $ 290. Using the aging-of-receivables method, the balance of the Allowance account after the adjusting entry at year-end 2016 would be
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