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Pirate Piper Ship had the following account title balances as of 12/31/2022. Sales Revenue 800,000 Allowance for Credit Loss 2,300 Credit Accounts Receviable 356,000 a.
| Pirate Piper Ship had the following account title balances as of 12/31/2022. | ||||||
| Sales Revenue | 800,000 | |||||
| Allowance for Credit Loss | 2,300 Credit | |||||
| Accounts Receviable | 356,000 | |||||
| a. | If the company estimated uncollectibles based on 5% of accounts receivable, what would the uncollectible amount be and what would be reported on the balance sheet? | |||||
| b. | If the company estimated uncollectibles based on 3% of sales, what would the uncollectible amount be and what would be reported on the balance sheet? | |||||
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Horngrens Financial & Managerial Accounting
Authors: Tracie Miller Nobles, Brenda Mattison
7th Edition
0136516254, 9780136516255
