Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oriole Company has accounts receivable of $93,600 at March 31, 2022. Credit terms are 2/10, 1/30. At March 31, 2022, there is a $2,216 credit

image text in transcribed

Oriole Company has accounts receivable of $93,600 at March 31, 2022. Credit terms are 2/10, 1/30. At March 31, 2022, there is a $2,216 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2022 2021 Current 1-30 days past due 31-90 days past due $63,800 $69.450 12,200 7,740 10,000 2,630 7,600 1,140 $93,600 $80,960 Over 90 days past due x Your answer is incorrect. Determine the total estimated uncollectibles at March 31, 2022 Total estimated uncollectibles $ C 8 209

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Accounting Reporting and Analysis

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

2nd edition

978-1285453828

Students also viewed these Accounting questions