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Use the following to answer questions 8 -11 The following information pertains to JR, Inc. for the month of November: $850,000 Credit sales Accounts payable
Use the following to answer questions 8 -11 The following information pertains to JR, Inc. for the month of November: $850,000 Credit sales Accounts payable Accounts receivable Allowance for Uncollectible accounts 40,000 80,000 credit 300 Cash sales 145,000 JR uses the percent of receivables method and estimates it will not collect 6% of accounts receivable Chapter 5 Page 5-1 8 $ Determine the ending balance for the Allowance for Uncollectible Accounts Determine the appropriate amount to record for Bad Debt expense 9. 10. $ the amount to record for Bad Debt expense Assuming the Allowance for Uncollectible accounts had a $600 debit balance instead, determine 11. $ After recording bad debt expense the Net Accounts Receivable is
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