Question

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $881,0
S eBook Calculator ays pustu Over 120 days past due Required: 80 1. Determine the number of days past due for each of the pre
0 0
Add a comment Improve this question Transcribed image text
Answer #1

1) a $9,980,000*3/4*1% = $74,850 b $38,100- $11,900 $26,200 c $9,980,000*1/4*1% = $24,950 d $43,200 $5,200 $48,400

Note: Information for 2nd question is incomplete, so couldn't answer.

Add a comment
Know the answer?
Add Answer to:
Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit bala...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Aging of Receivables; Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care...

    Aging of Receivables; Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y1: 23,00 over 120 17,900 Ver1230 Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 91-120 Subtotals 715,500 397,100 171,700 78,700 26,500 23,600 The following accounts were unintentionally...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,154,000 and sales for the year total $13,090,000. The allowance account before adjustment has a credit balance of $15,600. Bad debt expense is estimated at 3/4 of 1% of sales. The allowance account before adjustment has a credit balance of $15,600. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $49,900. The allowance account before...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $6,800,000 and sales for the year total $81,500,000 a. The allowance account before adjustment has a debit balance of $68,250. Bad debt expense is estimated at 1 of 1% of sales. b. The allowance account before adjustment has a debit balance of $68,250. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $575,000 c. The...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $836,000 and sales for the year total $9,480,000. a. The allowance account before adjustment has a credit balance of $11,300. Bad debt expense is estimated at 3/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $11,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $36,200. c. The...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $925,000 and sales for the year total $10,490,000. a. The allowance account before adjustment has a credit balance of $12,500. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a credit balance of $12,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $40,000. c. The...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,835,000 and sales for the year total $25,690,000 a. The allowance account before adjustment has a debit balance of $12,500. Bad debt expense is estimated at 1/2 of 1% of sales. b. The allowance account before adjustment has a debit balance of $12,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $162,000. c. The allowance account before adjustment...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,103,000 and sales for the year total $12,500,000 a. The allowance account before adjustment has a credit balance of $14,900. Bad debt expense is estimated at 3/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $14,900. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $47,700. The allowance...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,236,000 and sales for the year total $14,010,000. The allowance account before adjustment has a credit balance of $16,700. Bad debt expense is estimated at 3/4 of 1% of sales. The allowance account before adjustment has a credit balance of $16,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $53,400. The allowance account before...

  • Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has...

    Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,835,000 and sales for the year total $25,690,000. The allowance account before adjustment has a debit balance of $12,500. Bad debt expense is estimated at 1/2 of 1% of sales. The allowance account before adjustment has a debit balance of $12,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $162,000. The allowance account before...

  • Aging of Receivables, Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair...

    Aging of Receivables, Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable derk for Wig Creations prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 2011: Not Days Past Due Past Customer Balance Due 31-60 61-90 91-120 Over 120 ABC Beauty 15.000 15,000 Angel Wigs 8,000 8,000 Zodiac Beauty 3,000 Subtotals 875,000 415,000 210,000 112,000...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT