What is the solution for accounts receivable and allowance for doubtful accounts ?
Uncollectible | |||
Accounts Receivable | Total | % | Amount |
0-30 days | $ 46,000 | 4% | $ 1,840 |
31-60 days | $ 56,200 | 15% | $ 8,430 |
61-90 days | $ 7,000 | 25% | $ 1,750 |
Over 90 days | $ 9,400 | 45% | $ 4,230 |
$ 118,600 | $ 16,250 |
Accounts Receivable = $118600
Less Allowance for Doubtful accounts = $16250 or ($16250)
What is the solution for accounts receivable and allowance for doubtful accounts ? Required information The...
Need help with this balance sheet please! Required Informatlon The following information applies to the questions displayed below Web Wizard, Inc., has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during...
Required information [The following information applies to the questions displayed below.) Execusmart Consultants has provided business consulting services for several years. The company has been using the percentage of credit sales method to estimate bad debts but switched at the end of the first quarter this year to the aging of accounts receivable method. The company entered into the following partial list of transactions. a. During January, the company provided services for $220,000 on credit. b. On January 31, the...
Execusmart Consultants has provided business consulting services for several years. The company has been using the percentage of credit sales method to estimate bad debts but switched at the end of the first quarter this year to the aging of accounts receivable method. The company entered into the following partial list of transactions. a. During January, the company provided services for $210,000 on credit. b. On January 31, the company estimated bad debts using 1 percent of credit sales. c....
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Need help with partial balance sheet. Required information The following information applies to the questions displayed below. Web Wizard, Inc., has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during the...
Required information (The following information applies to the questions displayed below.) Web Wizard, Inc., has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of transactions during the first quarter a. During January, the...
Can your explain what am I missing and why is that? [The following information applies to the questions displayed below.] Web Wizard, Inc., has provided information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following partial list of...
Required Information PA8-4 Accounting for Accounts and Notes Receivable Transactions (LO 8-2, LO 8-3] The following information applies to the questions displayed below) Web Wizard, Inc., has provided Information technology services for several years. For the first two months of the current year, the company has used the percentage of credit sales method to estimate bad debts. At the end of the first quarter, the company switched to the aging of accounts receivable method. The company entered into the following...
journal entries for a-j Required information The following information applies to the questions displayed below.) Elite Events Corporation has provided event planning services for several years. The company has been using the percentage of credit sales method to estimate bad debts but switched at the end of the first quarter to the aging of able method. The company entered any entered into the following partial list of transactions during the first quarter a. During January, the company provided services for...
Web Wizard, Inc., has provided information technology services for several years. The company uses the percentage of credit sales method to estimate bad debts for internal monthly reporting purposes. At the end of each quarter, the company adjusts its records using the aging of accounts receivable method. The company entered into the following selected transactions during the first quarter of 2017: a. During January, the company provided services for $40,000 on credit. b. On January 31, the company estimated bad...