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There are 5 total parts. i already solved the first part. if you could please help me solve all that would mean alot. Winter Company
There are 5 total parts. i already solved the first part. if you could please help me solve all that would mean alot.
Winter Company has organized its accounts receivable by customer and how long each receivable has been outstanding. Winter records bad debt expense based on an analysis of an aged schedule. The following information is as of the end of the year (December 31): (Click the icon to view the schedule of accounts receivable.) At the beginning of the year, Winter had accounts receivable of $450,000 and a credit balance of $31,000 in its allowance for uncollectible accounts. During the year, it wrote off specific accounts receivable in the amount of $110,000. Assume no recoveries of write-offs during the year. Read the requirements. Requirement a. Compute bad debt expense for the year ending December 31 and the net realizable value of Winter's accounts receivable as of December 31. The bad debt expense for the year ending December 31 is $117,412 The net realizable value of Winter's accounts receivable as of December 31 is Days Past Due Customer No. 10901 10902 10903 Total Due Current 1-30 Days 31-60 Days Over 60 Days $ 84,600 $ 75,000 $ 9,600 57,800 48,000 9,800 143,000 120,000 23,000 35,200 25,000 $ 10,200 45,900 17,000 9,900 $ 19,000 110,000 95,000 15,000 10904 10905 10906 $ 476,500 $ 338,000 $ 99,400 $ 20,100 $ 19,000 Totals % uncollectible 4% 6% 28% 70% Step by Step Solution
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