Homework Answers
Calculate Amount
| Days | Amount | % | $ uncollectible |
| Current | 19000 | 4% | 760 |
| 31-60 days | 3200 | 6% | 192 |
| 61-90 days | 2900 | 10% | 290 |
| 91 and up | 2000 | 16% | 320 |
| Total | 1562 |
Amount = 1562-160 = 1402
So answer is b) $1402
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Cedar Corp. has given you the following information from its aging of Accounts Receivable. Using this...
Timber Company has given you the following information from its aging of accounts receivable. Using this...
Timber Company has given you the following information from its aging of accounts receivable. Using this information, determine the ending balance of the allowance for doubtful accounts and prepare the journal entry to record bad debt expense. Current amount in the allowance for doubtful accounts is a $958 credit. Current 31-60 days 61-90 days 91 and up $24,400 7,350 3,380 1,220 2% uncollectible 8% uncollectible 15% uncollectible 30% uncollectible
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Canarie Ltd. prepares an aging schedule for its accounts receivable at the end of each month...
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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%
31–60 days
326,000
6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
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(a)
Your...
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Easy Rider International is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable...
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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%
31–60 days
326,000
6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
$1,244,000
The unadjusted balance in Allowance for Doubtful Accounts is a
credit of $13,000.
(a)
Your...
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