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Rianna.com uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Over 120 Accounts receivable $377,000 $222,000 $90,000 $38,000 $15,000 $12,000 % uncollectible 1% 4% 5% 8% 10% Estimated bad debts $10,120 $2,220 $3,600 $1,900 $1,200 $1,200 Assume the unadjusted balance in Allowance for Doubtful Accounts is a $4,000 debit. (e) Assume that Rianna.com used 3% of total accounts receivable,...
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Wildhorse Inc. uses the allowance method to estimate
uncollectible accounts receivable. The company produced the
following aging of the accounts receivable at year-end.
Calculate the total estimated bad debts based on the below
information.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts receivable
166,400
71,700
37,800
32,600
15,700
$8,600
% uncollectible
1%
4%
5%
8%
20%
Estimated Bad debts
(b)
Prepare the year-end adjusting journal entry to record the bad
debts using the aged uncollectible accounts...
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Pearl Industries uses the allowance method of accounting for bad
debts. The company produced the following aging of the accounts
receivable at year-end.
Calculate the total estimated bad debts based on the
information below.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts receivable
$409,000
$246,000
$84,000
$43,000
$23,000
$13,000
% uncollectible
1%
4%
5%
8%
11%
Estimated bad debts
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in...
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CALCULATOR PRINTER VERSION BALK Problem B-1A Sarasota Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable Calculate the total estimated bad debts on the below information Number of Days Outstanding Total 0-3031-60 61-90 91-120 Over 120 Accounts Receivable $388,000 $234,000 $82,000 $39,000 $21,000 $12,000 We uncollectible Estimated bad debts EHXSLF ACCOUNTS Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined...
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FIUDICI DOTA Auviuco) Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Total 200,000 Number of Days Outstanding 31-60 61-90 91-120 46,000 39,000 23,000 4% 5% 8% 0-30 77,000 1% Accounts receivable % uncollectible Over 120 $15,000 20% Estimated bad debts (b) Prepare the year-end adjusting journal entry to record the bad debts using the...
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CALCLATOR FULL SCREEN PRINTER VERSION BACK N Problem 8-01A a-d Novak Corp. uses the allowance method of accounting for bad debts. The company produced the fellowing aging of the accounts receivable at year-end Calculate the total estimated bad debts based on the information below. Nember of Days Outstanding 61-90 $39,000 Total $398,000 0-30 $237,000 31-60 $90,000 91-120 $19,000 Over 120 Accounts receivable $13,000 % uncollectible 1% 4% 5% 9% 11% Estimated bad debts SHOW LIST OF ACCOUNTS INK TO TEXT...
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Instructions
(a) Calculate the
total estimated bad debts based on the above information.
(b) Prepare the
year-end adjusting journal entry to record the bad debts using the
allowance method and the aged uncollectible accounts receivable
determined in (a). Assume the current balance in Allowance for
Doubtful Accounts is a $3,000 credit.
(c) Of the above
accounts, $1,600 is determined to be specifically uncollectible.
Prepare the journal entry to write off the uncollectible
accounts.
(d) The company
subsequently collects $700 on...
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Problem 9-04A a-d (Video) Windsor Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Accounts receivable 207,100 77,900 45,600 40,000 25,100 % uncollectible 2% 5% 6% 9% Estimated Bad debts $ $ $ $ $ Over 120 $18,500 21% $ $ SHOW LIST OF ACCOUNTS LINK TO...
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can anyone help me to solve p8.4
total estimated bad debts will be €31.600. P8.4 (LO 21 Writing Ho Publishers, uses the allowance method to estimate un collectible accounts re- ceivable. The company produced the following aging of the accounts receivable at year-end (in thousands), Journalistrations related to be debts. Worksheet Total 200,000 Number of Days Outstanding 3 1-60 61-90 91-120 Over 120 46,000 39,000 23,000 15.000 4% 5% 8% 20% 0-30 77.000 1% Accounts receivable % uncollectible Estimated bad...
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If a company uses the allowance method of accounting for bad
debts which one of the following is true? Violates the matching
principle it will record bad debt only when an account is
determined to be uncollectible
If a company uses the allowance method of accounting for bad debts, which one of the following statements is true? O A. It violates the matching principle O B. It will record bad debts only when an account is determined to be uncollectible...
Rianna.com uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Over 120 Accounts receivable $377,000 $222,000 $90,000 $38,000 $15,000 $12,000 % uncollectible 1% 4% 5% 8% 10% Estimated bad debts $10,120 $2,220 $3,600 $1,900 $1,200 $1,200 Assume the unadjusted balance in Allowance for Doubtful Accounts is a $4,000 debit. (e) Assume that Rianna.com used 3% of total accounts receivable,...
Pearl Industries uses the allowance method of accounting for bad
debts. The company produced the following aging of the accounts
receivable at year-end.
Calculate the total estimated bad debts based on the
information below.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts receivable
$409,000
$246,000
$84,000
$43,000
$23,000
$13,000
% uncollectible
1%
4%
5%
8%
11%
Estimated bad debts
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in...
CALCULATOR PRINTER VERSION BALK Problem B-1A Sarasota Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable Calculate the total estimated bad debts on the below information Number of Days Outstanding Total 0-3031-60 61-90 91-120 Over 120 Accounts Receivable $388,000 $234,000 $82,000 $39,000 $21,000 $12,000 We uncollectible Estimated bad debts EHXSLF ACCOUNTS Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined...
FIUDICI DOTA Auviuco) Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Total 200,000 Number of Days Outstanding 31-60 61-90 91-120 46,000 39,000 23,000 4% 5% 8% 0-30 77,000 1% Accounts receivable % uncollectible Over 120 $15,000 20% Estimated bad debts (b) Prepare the year-end adjusting journal entry to record the bad debts using the...
CALCLATOR FULL SCREEN PRINTER VERSION BACK N Problem 8-01A a-d Novak Corp. uses the allowance method of accounting for bad debts. The company produced the fellowing aging of the accounts receivable at year-end Calculate the total estimated bad debts based on the information below. Nember of Days Outstanding 61-90 $39,000 Total $398,000 0-30 $237,000 31-60 $90,000 91-120 $19,000 Over 120 Accounts receivable $13,000 % uncollectible 1% 4% 5% 9% 11% Estimated bad debts SHOW LIST OF ACCOUNTS INK TO TEXT...
Instructions
(a) Calculate the
total estimated bad debts based on the above information.
(b) Prepare the
year-end adjusting journal entry to record the bad debts using the
allowance method and the aged uncollectible accounts receivable
determined in (a). Assume the current balance in Allowance for
Doubtful Accounts is a $3,000 credit.
(c) Of the above
accounts, $1,600 is determined to be specifically uncollectible.
Prepare the journal entry to write off the uncollectible
accounts.
(d) The company
subsequently collects $700 on...
Problem 9-04A a-d (Video) Windsor Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Accounts receivable 207,100 77,900 45,600 40,000 25,100 % uncollectible 2% 5% 6% 9% Estimated Bad debts $ $ $ $ $ Over 120 $18,500 21% $ $ SHOW LIST OF ACCOUNTS LINK TO...
can anyone help me to solve p8.4
total estimated bad debts will be €31.600. P8.4 (LO 21 Writing Ho Publishers, uses the allowance method to estimate un collectible accounts re- ceivable. The company produced the following aging of the accounts receivable at year-end (in thousands), Journalistrations related to be debts. Worksheet Total 200,000 Number of Days Outstanding 3 1-60 61-90 91-120 Over 120 46,000 39,000 23,000 15.000 4% 5% 8% 20% 0-30 77.000 1% Accounts receivable % uncollectible Estimated bad...
If a company uses the allowance method of accounting for bad
debts which one of the following is true? Violates the matching
principle it will record bad debt only when an account is
determined to be uncollectible
If a company uses the allowance method of accounting for bad debts, which one of the following statements is true? O A. It violates the matching principle O B. It will record bad debts only when an account is determined to be uncollectible...