Question
The following is a portion of the current asset section of the balance sheets of HiROE Co., at December 31, 2020 and 2019: 12/31/20 12/31/19
The following is a portion of the current asset section of the balance sheets of HiROE Co., at December 31, 2020 and 2019:
12/31/20 | 12/31/19 | |
Accounts receivable, less allowance for uncollectible accounts of $23,000 and $11,000, respectively b. If bad debts expense for 2020 totaled $19,000, what was the amount of accounts receivable written off during the year? (Hint: Use the T-account model of the Allowance account, plug in the three amounts that you know, and solve for the unknown.) Accounts receivable written off-------- e-1. Calculate the ratio of the Allowance for Uncollectible Accounts balance to the Accounts Receivable balance at December 31, 2020 and 2019. (Enter your answers as a percentage rounded to 1 decimal place (i.e., 3.2).) Ratio for 2019 -----% Ratio for 2019 ----% |
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