Question

bue8 t8 $296,000, the estimated uncollectible account losses would be 25 The adjusting entry to record an increase in Allowance for Bad Debts inv for Bad Debts involves nd 26. The accounting concept that states expe nses should be recognized in the same period with the revenues they helped to produce is the Acaval rethodot aClovnter) Last year, the Tilden Co. had credit sales in the amount of $470,000, and it had uncollectible accounts in the amount of $4,700. Based on last year, what would the percent of estimated uncollectible accounts be this year? 27. 28. Which of the following is a method of accounting for uncollectible accounts?A h an uncollectible account is recognized when it has been determined 29. The expense associated wit that a customer will not pay the amount owed under the

Answer 1

27. 1%

29.The expense associated with an uncollectible account is recognized when it has been determined that a customer will not pay the amount owed under the Direct Write Off Method.