Recording Uncollectable Receivables Review the accounts receivable transactions shown in the general journal on the Fan-Tastic Sports Gear Inc. panel.

1. How does the company appear to be handling uncollectible receivables?

2. You have made the following observations during your review of the accounting records. In deciding whether Fan-Tastic Sports Gear Inc. Is handling uncollectible receivables appropriately, which of these observations are key factors in your decision?

a. Most of the company's sales are on account.

b. An analysis of the company's accounts receivable shows more accounts will be uncollectible than last year.

c. Collection agencies are routinely used. d. Company sales last year were $3,100,000 and are expected to increase by $360,000 this year.

e. Bad debt is a rising expense.

f. The company sells primarily to smaller businesses, who are more likely to have cash flow problems. to. record bad debt

3. After making the observations previously listed in (2), you have recommended that Fan-Tastic Sports Gear Inc. use the expense.

Revised Journal Entries 1. Assume that Fan-Tastic Sports Gear Inc. will be using the allowance method this year. Select the item from the following list that should be added to the existing chart of accounts

Recording Uncollectable Receivables Review the accounts receivable transactions shown in the general Journal on the Fan-Tastic Sports Gear Inc panel 1. How does the company appear to be handling uncollectible receivables? 2. You have made the following observations during your review of the accounting records. In deciding whether Fan-Tastic Sports Gear Inc. is handling uncollectible receivables appropriately, which of these observations are key factors in your decision? 2. Most of the company's sales are on account b. An analysis of the company's accounts receivable shows more accounts will be uncollectible than last year, C. Collection agences are routinely used d. Company sales last year were $3,100,000 and are expected to increase by $360,000 this year . Bad debt is a rising expense 1. The company sells primarily to smaller businesses, who are more likely to have cash flow problema, to record bad debt 3. After making the observations previously listed in (2), you have recommended that Fan-Tastic Sports Gear Inc. use the expense . Revised Journal Entries 1. Assume that Fan-Tastic Sports Gear Inc. will be using the allowance method this year. Select the item from the following list that should be added to the casting chart of accounts Recording Uncollectable Receivables Review the accounts receivable transactions shown in the general Journal on the Fan-Tastic Sports Gear Inc panel 1. How does the company appear to be handling uncollectible receivables? 2. You have made the following observations during your review of the accounting records. In deciding whether Fan-Tastic Sports Gear Inc. is handling uncollectible receivables appropriately, which of these observations are key factors in your decision? 2. Most of the company's sales are on account b. An analysis of the company's accounts receivable shows more accounts will be uncollectible than last year, C. Collection agences are routinely used d. Company sales last year were $3,100,000 and are expected to increase by $360,000 this year . Bad debt is a rising expense 1. The company sells primarily to smaller businesses, who are more likely to have cash flow problema, to record bad debt 3. After making the observations previously listed in (2), you have recommended that Fan-Tastic Sports Gear Inc. use the expense . Revised Journal Entries 1. Assume that Fan-Tastic Sports Gear Inc. will be using the allowance method this year. Select the item from the following list that should be added to the casting chart of accounts