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At the beginning of the year a company had an Allowance for Uncollectible Accounts of $22,000 By the end of the year actual bad debts total $24,000

At the beginning of the year, a company had an Allowance for Uncollectible Accounts of $22,000. By the end of the year, actual bad debts total $24,000. What is the balance of the Allowance for Uncollectible Accounts after the write-offs (before any year-end adjustment)?

 

 

151. On March 13, a company writes off a customer’s account of $3,800. On June 3, the customer unexpectedly pays the $3,800 balance. Using the allowance method, record the write-off on March 13 and the cash collection on June 3.

 

 

152. A company has the following accounts receivable and estimates of uncollectible accounts:

1. Accounts not yet due = $60,000; estimated uncollectible = 3%.

2. Accounts 1–30 days past due = $20,000; estimated uncollectible = 20%.

3. Accounts more than 30 days past due = $10,000; estimated uncollectible = 50%.

Compute the total estimated uncollectible accounts.

Jan 27 2020 View more View Less

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