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Reporting Uncollectible Accounts and Accounts Receivable La Fonu Company analyzes ils accounts receivable al December 31, 2016, and arrives at the aged categories below along
Reporting Uncollectible Accounts and Accounts Receivable La Fonu Company analyzes ils accounts receivable al December 31, 2016, and arrives at the aged categories below along with the percentages that are estimated as uncolleclible. Age Group Accounts Receiv Accounts Receivable Estimated Loss % Current (not oast due) $250,030 0.305 1-30 days past due 10,000 1.0 31-6(days past due 20,000 2,0 61-12D days past due 11,000 121-180 days past dur Cuer 100 days past due 4,000 $281,000 Total accounts receivable At the beginning of the fourth quarter of 2016, there was a credit balance of $4,380 in the Allowance for Uncollectible Accounts. During the fourth quarter. LaFund Company wrote off $3,800 in receivables as uncollectible. J. What amount of bad debts expense will La Fond report for 2016? b. What is the balance of accounts receivable that it reports on its December 31, 2016, balance sheet? c. Set up T-accounts for both Bad Debts Expense and for the Allowance for Uncollectible Accounts. Enter any unadjusted balances along with the dollar effects of the information described (including your results from parts a and b). Bad Debts Expense Allow. For Uncoll, Accounts Beg. Bal. (a) Balance Halanra
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