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# At the end of the year a company has the following accounts receivable and estimates

At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts:

1. Accounts not yet due = \$80,000; estimated uncollectible = 2%.

2. Accounts 1–30 days past due = \$20,000; estimated uncollectible = 25%.

3. Accounts more than 30 days past due = \$4,000; estimated uncollectible = 60%.

Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is \$900 (credit).

154. At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts:

1. Accounts not yet due = \$70,000; estimated uncollectible = 4%.

2. Accounts 1–30 days past due = \$30,000; estimated uncollectible = 15%.

3. Accounts more than 30 days past due = \$5,000; estimated uncollectible = 40%.

Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is \$1,200 (debit).

155. A company has the following balances on December 31, 2015, before any year-end adjustments: Accounts Receivable = \$80,000; Allowance for Uncollectible Accounts = \$1,100 (credit). The company estimates uncollectible accounts based on an aging of accounts receivable as shown below:

 Age Group Amount Receivable Estimated Percent Uncollectible Not yet due \$48,000 5% 0–30 days past due 18,000 15% 31–90 days past due 10,000 40% More than 90 days past due 4,000 80% Total \$80,000

Record the adjustment for uncollectible accounts on December 31, 2015.

Jan 27 2020 View more View Less