Swing: 1 Determine the bad debt aynense for 20x5 a gec Data Table age Ending Accounts Bad Debt Written Sales Receivable Off During the Year ce 20X1 $ sal 750,000 $ 142,000 $ 30,500 30,000 mu 20X2 760,000 140,000 Intel 20X3 710,000 147,000 33,000 20X4 680,000 151,000 28,000 = = 20X5 692,000 158,000 25,000 Expl Print Done rD at December 31, 20X5. Ozzie Company has made an analysis of its sales and accounts receivable for the past 5 years. Assume that all accounts 5 written off in a year related to sales of the preceding year and were part of the accounts receivable at the end of that year. That is, no account is written off before the end of the year of the sale, and all accounts remaining unpaid are written off before the end of the year following the sale. The analysis showed the following: (Click the icon to view the analysis.) The balance in Allowance for Uncollectible Accounts on December 31, 20X4, was $ 16,900. Use all the relevant data in answering the following questions. Requirements 1. Determine the bad debt expense for 20X5 and the balance of the Allowance for Uncollectible Accounts for December 31, 20X5, using the percentage of sales method. 2. Repeat requirement 1 using the percentage of ending accounts receivable method. Requirement 1. Determine the bad debt expense for 20X5 and the balance of the Allowance for Uncollectible Accounts for December 31, 20X5, using the percentage of sales method. (A/R = Accounts Receivable.) Begin with the bad debt expense for 20X5 and start by determining the formula and entering the amounts to calculate the bad debt expense as a percentage of sales. (Enter your answer to one decimal place, "X.X%".) Bad debt as a Write-offs 20X1-20X5 / Sales 20X1-20X5 = percentage of sales % Next, select the formula and enter the amounts to calculate the bad debt expense for 20X5. (Enter the percentage to one decimal place, "X.X%".) Sales 20X5 x Bad debt as a percentage of sales y = Bad debts expense 20X5 % Now determine the balance of the Allowance for Uncollectible Accounts for December 31, 20X5 using the percentage of sales method. Select the formula and then enter the amounts to calculate the allowance at December 31, 20X5. Beginning allowance + 20X5 bad debt expense 20X5 write-offs = Allowance, 12/31/20X5 + Requirement 2. Repeat requirement 1 using the percentage of ending accounts receivable method. (A/R = Accounts Receivable.) = Start by determine the formula and entering the amounts to calculate the allowance as a percentage of ending accounts receivable using the percentage of ending accounts receivable method. (Enter the answer to two decimal places, "X.XX%".) Allowance as a Write-offs 20X1-20X5 | Accounts receivable 20X1-20X5 v = percentage of AIR % Next, select the formula and enter the amounts to calculate the balance of the Allowance for Uncollectible accounts at the end of 20X5 using the percentage of ending accounts receivable method. (Enter the percentage to two decimal places, "X.XX%".) Accounts receivable 20X5 Allowance as a percentage of AIR V Allowance, 12/31/20X5 X % = Finally, select the formula and then enter the amounts to calculate the bad debts expense for 20x5 under the percentage of ending accounts receivable method. Ending allowance + 20X5 write-offs Beginning allowance = Bad debt expense 20X5 + Swing: 1 Determine the bad debt aynense for 20x5 a gec Data Table age Ending Accounts Bad Debt Written Sales Receivable Off During the Year ce 20X1 $ sal 750,000 $ 142,000 $ 30,500 30,000 mu 20X2 760,000 140,000 Intel 20X3 710,000 147,000 33,000 20X4 680,000 151,000 28,000 = = 20X5 692,000 158,000 25,000 Expl Print Done rD at December 31, 20X5. Ozzie Company has made an analysis of its sales and accounts receivable for the past 5 years. Assume that all accounts 5 written off in a year related to sales of the preceding year and were part of the accounts receivable at the end of that year. That is, no account is written off before the end of the year of the sale, and all accounts remaining unpaid are written off before the end of the year following the sale. The analysis showed the following: (Click the icon to view the analysis.) The balance in Allowance for Uncollectible Accounts on December 31, 20X4, was $ 16,900. Use all the relevant data in answering the following questions. Requirements 1. Determine the bad debt expense for 20X5 and the balance of the Allowance for Uncollectible Accounts for December 31, 20X5, using the percentage of sales method. 2. Repeat requirement 1 using the percentage of ending accounts receivable method. Requirement 1. Determine the bad debt expense for 20X5 and the balance of the Allowance for Uncollectible Accounts for December 31, 20X5, using the percentage of sales method. (A/R = Accounts Receivable.) Begin with the bad debt expense for 20X5 and start by determining the formula and entering the amounts to calculate the bad debt expense as a percentage of sales. (Enter your answer to one decimal place, "X.X%".) Bad debt as a Write-offs 20X1-20X5 / Sales 20X1-20X5 = percentage of sales % Next, select the formula and enter the amounts to calculate the bad debt expense for 20X5. (Enter the percentage to one decimal place, "X.X%".) Sales 20X5 x Bad debt as a percentage of sales y = Bad debts expense 20X5 % Now determine the balance of the Allowance for Uncollectible Accounts for December 31, 20X5 using the percentage of sales method. Select the formula and then enter the amounts to calculate the allowance at December 31, 20X5. Beginning allowance + 20X5 bad debt expense 20X5 write-offs = Allowance, 12/31/20X5 + Requirement 2. Repeat requirement 1 using the percentage of ending accounts receivable method. (A/R = Accounts Receivable.) = Start by determine the formula and entering the amounts to calculate the allowance as a percentage of ending accounts receivable using the percentage of ending accounts receivable method. (Enter the answer to two decimal places, "X.XX%".) Allowance as a Write-offs 20X1-20X5 | Accounts receivable 20X1-20X5 v = percentage of AIR % Next, select the formula and enter the amounts to calculate the balance of the Allowance for Uncollectible accounts at the end of 20X5 using the percentage of ending accounts receivable method. (Enter the percentage to two decimal places, "X.XX%".) Accounts receivable 20X5 Allowance as a percentage of AIR V Allowance, 12/31/20X5 X % = Finally, select the formula and then enter the amounts to calculate the bad debts expense for 20x5 under the percentage of ending accounts receivable method. Ending allowance + 20X5 write-offs Beginning allowance = Bad debt expense 20X5 +
