On June 30, 2017. Windy Mountain PayPlanners (WMPP) had a $38.000 balance in Accounts Receivable and a $2.500 credit balance in Alowance for Uncollectible Accounts. During July, WMPP made credit sales of $78,000. July collections on account were $58,000, write-offs of uncollectible receivables totaled $2,700, and an account of $1.500 was recovered Bad debt expert is estimated to be $3,120 Requirements 1. Determining bad debt expense by using the allowance method is managements estimate of uncollectible accounts and not an accurate measurement. Why not wait until a company finds out which customers can't pay and write the accounts receivable off as they ur? 2. If the lowance method is not used to estimate un collectible accounts, what effect would have an accounts receivable (balance sheet and bad debt expense Income statement? Requirement 1. Determining bad debe expense by using the allowance method is management's estimate of uncolectie counts and not an accurate measurement. Why not wait untia company finds out which customers can't pay and wrte the accounts receivable off as they court By using the awarde method, the account is reported at the amount the company expects to collect, which is the most relevant and representation of as of the balance sheet de Alto are property recognized the period in which they were that is in the same period in which the related sales took place Requirement 2. If the alowance method is not used to estimate collectible accounts, what efect would this have an accounts receivable (balance sheet and bad debe expense Income statement? Leave any unused cells blank.) Calculate the company's balance of accounts receivable by entering the beginning balance and the adjusting entries in the following account. Post the beginning balance frutand then post the adjustments Accounts Receivable What balance of accounts receivable des WMPP reports What amount of bad dubt expense would be reported? On June 30, 2017. Windy Mountain Party Planners (WMPP) had a $35.000 balance in Accounts Receivable and a $2.600 credit balance in Alowance for Uncollectible Accounts. During July. WMPP made credit sales of $78,000. Joly collections on account were 558,000 write-offs of uncollectible receivables totalled $2,700, and count of $1.500 was recovered. Bad debt expense is estimated to be $3.120 Requirements 1. Determining bed dettepense by using the lowance method is managements estimate of collectible accounts and not an accurate measurement. Why not wait until a company finds out which customers can pay and wite the accounts receivable off as they occur? 2. If the slowance method is not used to estimate collectible accounts, what effect would this have an accounts receivable (balance shot) and bad debit expense (income statement? Requirement 1. Damining bad abt expense by using the allowance method is managements estimate of uncollectible accounts and not an accurate measurement. Why not wait until a company finds out which customers cant pay and write the accounts receivable off as they occur? By using the allowance method, the account is reported at the amount the company expects to colect, which is the most relevant and the representation of as of the balance sheet de Alto are property recognized in the period in which they were 7. that is in the same period in which the related sales took place Requirement 2. If the allowance method is not used to estimate uncollectible accounts what effect would this have an accounts receivable (balance sheet and bad debt expense (income statement? (Leave any unused cells blank.) Calculate the company's balance of accounts receivable by entering the beginning balance and the adjusting entries in the following account Post the beginning balance first and then post the adjustments Accounts Receivable What balance of accounts receivatio dos MPP report What amount or bad dubt expense would be reported? On June 30, 2017. Windy Mountain PayPlanners (WMPP) had a $38.000 balance in Accounts Receivable and a $2.500 credit balance in Alowance for Uncollectible Accounts. During July, WMPP made credit sales of $78,000. July collections on account were $58,000, write-offs of uncollectible receivables totaled $2,700, and an account of $1.500 was recovered Bad debt expert is estimated to be $3,120 Requirements 1. Determining bad debt expense by using the allowance method is managements estimate of uncollectible accounts and not an accurate measurement. Why not wait until a company finds out which customers can't pay and write the accounts receivable off as they ur? 2. If the lowance method is not used to estimate un collectible accounts, what effect would have an accounts receivable (balance sheet and bad debt expense Income statement? Requirement 1. Determining bad debe expense by using the allowance method is management's estimate of uncolectie counts and not an accurate measurement. Why not wait untia company finds out which customers can't pay and wrte the accounts receivable off as they court By using the awarde method, the account is reported at the amount the company expects to collect, which is the most relevant and representation of as of the balance sheet de Alto are property recognized the period in which they were that is in the same period in which the related sales took place Requirement 2. If the alowance method is not used to estimate collectible accounts, what efect would this have an accounts receivable (balance sheet and bad debe expense Income statement? Leave any unused cells blank.) Calculate the company's balance of accounts receivable by entering the beginning balance and the adjusting entries in the following account. Post the beginning balance frutand then post the adjustments Accounts Receivable What balance of accounts receivable des WMPP reports What amount of bad dubt expense would be reported? On June 30, 2017. Windy Mountain Party Planners (WMPP) had a $35.000 balance in Accounts Receivable and a $2.600 credit balance in Alowance for Uncollectible Accounts. During July. WMPP made credit sales of $78,000. Joly collections on account were 558,000 write-offs of uncollectible receivables totalled $2,700, and count of $1.500 was recovered. Bad debt expense is estimated to be $3.120 Requirements 1. Determining bed dettepense by using the lowance method is managements estimate of collectible accounts and not an accurate measurement. Why not wait until a company finds out which customers can pay and wite the accounts receivable off as they occur? 2. If the slowance method is not used to estimate collectible accounts, what effect would this have an accounts receivable (balance shot) and bad debit expense (income statement? Requirement 1. Damining bad abt expense by using the allowance method is managements estimate of uncollectible accounts and not an accurate measurement. Why not wait until a company finds out which customers cant pay and write the accounts receivable off as they occur? By using the allowance method, the account is reported at the amount the company expects to colect, which is the most relevant and the representation of as of the balance sheet de Alto are property recognized in the period in which they were 7. that is in the same period in which the related sales took place Requirement 2. If the allowance method is not used to estimate uncollectible accounts what effect would this have an accounts receivable (balance sheet and bad debt expense (income statement? (Leave any unused cells blank.) Calculate the company's balance of accounts receivable by entering the beginning balance and the adjusting entries in the following account Post the beginning balance first and then post the adjustments Accounts Receivable What balance of accounts receivatio dos MPP report What amount or bad dubt expense would be reported