2. The following information is available for Handon Corp.: Accounts receivable aging schedule at 12/31/12: Percent...
2. The following information is available for Handon Corp.:
Accounts receivable aging schedule at 12/31/12:
|
Percent |
||
|
Age |
Amount |
Uncoll. |
|
0-90 |
$21,600 |
2 |
|
90-180 |
$8,100 |
6 |
|
over 180 |
$7,290 |
10 |
Additional information:
|
Allowance for doubtful accounts balance at 1/1/12 |
$7,020.0 |
|
Write-offs during 2012 |
$6,318.0 |
|
Accounts receivable balance at 1/1/12 |
$77,220.0 |
For 2012, Handon will report bad debt expense in the amount of:
a. $945
b. $702
c. $13,338
d. $1,647
e. $6,318.
Homework Answers
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2. The following information is available for Handon Corp.:
Accounts receivable aging schedule at 12/31/12:
Percent...
1. The following information is available for Coogan, Inc. Accounts receivable aging schedule at 12/31/12: Percent...
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Canarie Ltd. prepares an aging schedule for its accounts receivable at the end of each month...
Canarie Ltd. prepares an aging schedule for its accounts
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11%
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23%
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Aging of accounts receivable method 2) Use the information above to complete the Aging of Accounts Receivable Schedule below Create a formula for each age category, using the Excel iF and AND FUNCTIONS (fx) to determine where each customer amount belongs. The IF statement may include the following arguments: <,>, , <, Excel AND FUNCTION (fx) 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts
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Canarie Ltd. prepares an aging schedule for its accounts
receivable at the end of each month and records bad debts expense
monthly. The following selected information is from Canarie’s
partial aging schedule at the end of July:
Number of
Days
Outstanding
Accounts
Receivable
Estimated
Percentage
Uncollectible
0–30 days
$719,000
2%
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6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
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The unadjusted balance in Allowance for Doubtful Accounts is a
credit of $13,000.
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