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Kelly's Jewelry has the following transactions during the year: total jewelry sales = $590,000; sales discounts = $12,000; sales returns = $34,000, sales allowances =
Kelly's Jewelry has the following transactions during the year: total jewelry sales = $590,000; sales discounts = $12,000; sales returns = $34,000, sales allowances = $14,000. In addition, at the end of the year the company estimates the following transactions associated with Jewelry sales in the current year will occur next year sales discounts $1,200, sales returns = $4,080; sales allowances = $1,870. Compute net sales. Total sales Net sales Williamson Distributors separates its accounts receivable into three age groups for purposes of estimating the percentage of uncollectible accounts. 1. Accounts not yet due = $39,000; estimated uncollectible = 5%, 2. Accounts 1-30 days past due = $10,900; estimated uncollectible = 15%. 3. Accounts more than 30 days past due = $4,900; estimated uncollectible = 25% Compute the total estimated uncollectible accounts. Estimated Amount Uncollectible Age Group Not yet due 1-30 days past due More than 30 days past due Total MacBook Pro
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