Homework Answers
| Age of Accounts | Amount | % Uncollectible | Amount Uncollectible |
| Current | 64800 | 2% | 1296 |
| 1-30 days | 13800 | 5% | 690 |
| 31-90 days | 10500 | 29% | 3045 |
| Over 90 days | 8100 | 47% | 3807 |
| 8838 | |||
| Debit | Credit | ||
| Bad Debt expense | 6947 | =8838-1891 | |
| Allowance for Doubtful Accounts | 6947 |
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Sweet Acacia Industries has accounts receivable of $97,200 at March 31, 2017. Credit terms are 2/10,...
Exercise 8-5 Bonita Industries has accounts receivable of $98,500 at March 31, 2017. Credit terms are...
Exercise 8-5 Bonita Industries has accounts receivable of $98,500 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $1,977 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below Balance, March 31 Estimat Percentage 2017 2016 Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due 296 $69,600 $70,010 12,000...
Wildhorse Co. has accounts receivable of $92,100 at March 31, 2022. Credit terms are 2/10, n/30....
Wildhorse Co. has accounts receivable of $92,100 at March 31,
2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a
$2,081 credit balance in Allowance for Doubtful Accounts prior to
adjustment. The company uses the percentage-of-receivables basis
for estimating uncollectible accounts. The company’s estimates of
bad debts are as shown below. Balance, March 31 Estimated
Percentage Uncollectible Age of Accounts 2022 2021 Current $63,500
$80,330 2 % 1–30 days past due 11,700 7,610 5 31–90 days past...
ent Exercise 8-5 has accounts receivable of $97.900 at March 31, 2017, Credit terms are 2/10,...
ent Exercise 8-5 has accounts receivable of $97.900 at March 31, 2017, Credit terms are 2/10, n/30. At March 31, 2017, there is a $1,951 credit balance in Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables shown below. basis for estimating uncollectible accounts.T ,951 credit balance in Allowance for estimates of bad debts are as Balance, March 31 Estimated Percentage Current $69,000 $80,200 1-30 days past due 12,000 7,260 31-90 days past due 9,900 2,500 Over 90 days...
xercise 8-5 ovak Corp. has accounts receivable of $90,300 at March 31, 2017. Credit terms are...
xercise 8-5 ovak Corp. has accounts receivable of $90,300 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $2,284 credit balance in Allowance for Doubtfu elow. ccounts prior to adjustment. The company uses the percentage -of receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as show Balance, March 31 Estimated Percentage e of Accounts Current 2017 2016 Un $61,700 $74,140 1-30 days past due 12,600 8,520 31-90 days...
Company has accounts receivable of $95,500 at March 31, 2022. Credit terms are 2/10, n/30. At...
Company has accounts receivable of $95,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,296 credit balance in Allowance for Doubtful Accounts p adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated - Percentage Age of Accounts 2022 2021 Uncollectible Current $66,400 $68,240 1-30 days past due 12,600 7,280 31-90 days past due 9,100 2,540 Over...
Blossom Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10, n/30....
Blossom Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,230 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Estimated Percentage Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2022 2021 $61,600...
Cullumber Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10, n/30....
Cullumber Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $1,949 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Age of Accounts Uncollectible 2022 2021 Current $61,400 $76,320 2% 1-30 days past due 13,800 8,280 31-90 days past due 9,900...
Oriole Company has accounts receivable of $93,500 at March 31, 2022. Credit terms are 2/10,n/30. At...
Oriole Company has accounts receivable of $93,500 at March 31, 2022. Credit terms are 2/10,n/30. At March 31, 2022, there is a $2.212 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2022 2021 Current 1-30 days past due 31-90 days past due Over 90 days past due $65,300 $70,010...
Exercise 3-5 Waterway Industries has accounts receivable of $98,600 at March 31, 2017. Credit terms are...
Exercise 3-5 Waterway Industries has accounts receivable of $98,600 at March 31, 2017. Credit terms are 2/10, V30. At March 31, 2017, there is a $2,227 credit balance in Allowance for Doubthul Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Age of Accounts 2017 2016 Uncollectible Current $68,400 $69,990 1-30 days past due 13,700 7,880 31-90 days past due...
Vaughn Company has accounts receivable of $116,500 at March 31, 2020. Credit terms are 2/10, n/30....
Vaughn Company has accounts receivable of $116,500 at March 31, 2020. Credit terms are 2/10, n/30. At March 31, 2020, there is a $1,400 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 2020 $80,600 17,900 9,000...
Exercise 8-5 Bonita Industries has accounts receivable of $98,500 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $1,977 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below Balance, March 31 Estimat Percentage 2017 2016 Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due 296 $69,600 $70,010 12,000...
Wildhorse Co. has accounts receivable of $92,100 at March 31,
2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a
$2,081 credit balance in Allowance for Doubtful Accounts prior to
adjustment. The company uses the percentage-of-receivables basis
for estimating uncollectible accounts. The company’s estimates of
bad debts are as shown below. Balance, March 31 Estimated
Percentage Uncollectible Age of Accounts 2022 2021 Current $63,500
$80,330 2 % 1–30 days past due 11,700 7,610 5 31–90 days past...
ent Exercise 8-5 has accounts receivable of $97.900 at March 31, 2017, Credit terms are 2/10, n/30. At March 31, 2017, there is a $1,951 credit balance in Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables shown below. basis for estimating uncollectible accounts.T ,951 credit balance in Allowance for estimates of bad debts are as Balance, March 31 Estimated Percentage Current $69,000 $80,200 1-30 days past due 12,000 7,260 31-90 days past due 9,900 2,500 Over 90 days...
xercise 8-5 ovak Corp. has accounts receivable of $90,300 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $2,284 credit balance in Allowance for Doubtfu elow. ccounts prior to adjustment. The company uses the percentage -of receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as show Balance, March 31 Estimated Percentage e of Accounts Current 2017 2016 Un $61,700 $74,140 1-30 days past due 12,600 8,520 31-90 days...
Company has accounts receivable of $95,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,296 credit balance in Allowance for Doubtful Accounts p adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated - Percentage Age of Accounts 2022 2021 Uncollectible Current $66,400 $68,240 1-30 days past due 12,600 7,280 31-90 days past due 9,100 2,540 Over...
Blossom Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,230 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Estimated Percentage Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2022 2021 $61,600...
Cullumber Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $1,949 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Age of Accounts Uncollectible 2022 2021 Current $61,400 $76,320 2% 1-30 days past due 13,800 8,280 31-90 days past due 9,900...
Oriole Company has accounts receivable of $93,500 at March 31, 2022. Credit terms are 2/10,n/30. At March 31, 2022, there is a $2.212 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2022 2021 Current 1-30 days past due 31-90 days past due Over 90 days past due $65,300 $70,010...
Exercise 3-5 Waterway Industries has accounts receivable of $98,600 at March 31, 2017. Credit terms are 2/10, V30. At March 31, 2017, there is a $2,227 credit balance in Allowance for Doubthul Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Age of Accounts 2017 2016 Uncollectible Current $68,400 $69,990 1-30 days past due 13,700 7,880 31-90 days past due...
Vaughn Company has accounts receivable of $116,500 at March 31, 2020. Credit terms are 2/10, n/30. At March 31, 2020, there is a $1,400 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 2020 $80,600 17,900 9,000...
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