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Wildhorse Co. uses an aging schedule at December 31. Number of Days Outstanding Accounts Receivable Estimated % Uncollectible Estimated Uncollectible Accounts 0-30 days $265,600 1%
Wildhorse Co. uses an aging schedule at December 31. Number of Days Outstanding Accounts Receivable Estimated % Uncollectible Estimated Uncollectible Accounts 0-30 days $265,600 1% $2,656 31-60 days 70,800 4% 2,832 61-90 days 45,200 12% 5,424 Over 90 days 21,300 18% 3,834 Total $402,900 $14,746 Assuming the allowance for doubtful accounts has an unadjusted credit balance of $5.860 at December 31, what is the bad debt expense for the year? Bad debt expense $ e Textbook and Media List of Accounts Prepare the current assets section of the balance sheet for Wildhorse Co. Assume that, in addition to the receivables, it has cash of $86,000, merchandise inventory of $136,000, and prepaid insurance of $8,000. (List Current Assets in order of liquidity.) WILDHORSE Co. Balance Sheet (Partial) Assets $ $ $ e Textbook and Media List of Accounts
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