Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Exercise 8 5 Godfreid Company has accounts receivable of $95400 at March 31 2017 Credit te...

Exercise 8 5 Godfreid Company has accounts receivable of $95400 at March 31 2017 Credit terms are 210 n30 At March 31 2017 there is a $2100 credit balance in Allowance for Doubtful Accounts

Exercise 8-5 Godfreid Company has accounts receivable of $95,400 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $2,100 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. Estimate Balance, March 31 Percentage Age of Accounts 2017 2016 uncollectible Current $65,000 $75,000 2% 1-30 days past due 12,900 8,000 31-90 days past due 10,100 2,400 30 Over 90 days past due 7,400 1,100 50 $95,400 $86,500 Determine the total estimated uncollectibles. The total estimated uncollectibles SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE

 

Apr 23 2020 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions