Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 8-4A (Part Level Submission) Pukalani Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts

image text in transcribed
image text in transcribed
Problem 8-4A (Part Level Submission) Pukalani Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts expense monthly. The following selected information is from Pukalani's partial aging schedule at the end of Number of Days Accounts Estimated Percentage Outstanding Receivable 0-30 days 31-60 days 61-90 days Over 90 days Total $719,000 326,000 121,000 78,000 $1,244,000 Uncollectible 2% 5% 11% 23% The unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,000 Your answer is correct. Complete the aging schedule and calculate the total estimated uncollectible accounts from the above information Number of Days Accounts Estimated Percentage Uncollectible Estimated Uncollectible Accounts OutstandingReceivable $719,000 326,000 121,000 78,000 $1,244,000 14380 0-30 days 31-60 days 61-90 days 2% 19560 5% 11% 13310 17940 Over 90 days 23% Total 65190

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

ISO 13485 Auditing Journal Notes Checklists Observations Evidence Log

Authors: Just Visualize It, The Quality Guy

1st Edition

B08W7SNPGP, 979-8706121884

More Books

Students also viewed these Accounting questions

Question

=+A1, A2 ,... such that A ,, has probability p ,.

Answered: 1 week ago