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Use the following to answer questions 8-11 The following information pertains to JR, Inc. for the month of November: Credit sales Accounts payable Accounts receivable
Use the following to answer questions 8-11 The following information pertains to JR, Inc. for the month of November: Credit sales Accounts payable Accounts receivable Allowance for Uncollectible accounts Cash sales $880,000 35,000 81,000 500 200,000 credit JR uses the percent of receivables method and estimates it will not collect 5% of accounts receivable. Chapter 5 Page 5-1 8. $ Determine the ending balance for the Allowance for Uncollectible Accounts 9. $ _Determine the appropriate amount to record for Bad Debt expense 10. $_ Assuming the Allowance for Uncollectible accounts had a $100 debit balance instead, determine the amount to record for Bad Debt expense 11. $ After recording bad debt expense the Net Accounts Receivable is
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