they are all one question.
receivabres, net of allowance for uncollectible accounts of $55,000 5445,000 During 2021, credit sales were $2,850,000, cash collections from customers 52.708,000, and $42.000 in accounts receivable were written off. ini reveals the following: Percentage of Year-End Receivables in Group Percent Uncollectible 7096 496 Age Group 0-60 days 61-120 days Over 120 days 25% Required: (do not enter dollar sign: do not use thousand dollar divider) 1. What is the balance of gross (total) accounts receivable due from customers at the end of 20212 2. What is the balance of allowance for uncollectible accounts at the end of 2021 before adjusting for bad debt expense? 3. Assume bad debt expense is estimated to be 1% of credit sales for the year, what is the balance of allowance for uncollectible accounts a 4. Assume an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. a. What is the amount of bad debt expense for 20217 b. What would be the net amount of accounts receivable reported in the 2021 balance sheet? Moving to another question will save this response. receivable were written off. In addition, 52,000 was collected from a customer whose account was written off in 2020. An aging of accounts receivable at December 31, 2021 ad debt expense? Folowance for uncollectible counts at the end of 2021 after adjusting for bad debit accounts is adjusted accordingly. Question 3 of 26 Close Window Moving to another question will save this response. Question 3 Smooth Clothing Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense recorded only at December 31, the company's fiscal year-end. T current assets: Receivables, net of allowance for uncollectible accoun $445.000 Dunn 2021. credit sales were $2.850,000, cash collections from customers 2,708.000, and 542,000 in accounts receivable were written off. In addition, $2.000 was collected from a cu reveals the following percent Percentage of Year-End Receivables in Group Age Group 0-60 days 61-120 days Over 120 days Required: (do not enter dollar sigre do not use thousand dollor civider 1. What is the balance of total accounts receivable due from customers at the end of 20217 2. What is the balance of allows for collectible accounts at the end of 2001 before adjusting for bad debt expensel Assume bad b and is estimated to be of sales for the year. What is the balance of wood collector 4. Asume an aging of accounts receivable schede prepared and the towance for collecte account i d according . What is the amount of bod debt expense for 2017 b. What would be the pet amount of accounts receivable reported in the 2021 ance sheet the end of 2021 after adjusting for bal Question 3 Smooth Clothing Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is Current assets: Receivables, net of allowance for uncollectible accounts of $55.000 $445.000 During 2021. credit sales were $2.850,000, cash collections from customers $2.708.000 and $42.000 in accounts receivable reveals the following: Percentage of Year-End Receivables in Group Percent Uncollectible Age Group 0-60 days 70 496 61-120 days 2596 1096 Over 120 days 4096 Required: (do not enter dollar sign: do not use thousand dollar divider
