# Compute Net Accounts Receivable

Pages: 3 (383 words) Published: October 23, 2010
Question 1

For each of the following independent situations, compute net accounts receivable.

a. Accounts Receivable has a balance of \$14,000. The Allowance for Uncollectible Accounts has a credit balance prior to adjustment of \$300. An aging schedule prepared on December 31 reveals \$1,100 of uncollectible accounts.

b. Accounts Receivable has a balance of \$25,700. The Allowance for Uncollectible Accounts has a debit balance prior to adjustment of \$400. An aging schedule prepared on December 31 reveals \$2,300 of uncollectible accounts.

c. Accounts Receivable has a balance of \$84,000. The Allowance for Uncollectible Accounts has a credit balance prior to adjustment of \$300. Net credit sales for the year are \$250,000 and 3% is estimated to be uncollectible.

d. Accounts Receivable has a balance of \$83,000. The Allowance for Uncollectible Accounts has a debit balance prior to adjustment of \$400. Net credit sales for the year are \$250,000 and 3% is estimated to be uncollectible.

| | | | | |1 |(a) |Accounts receivables |\$14,000 | | | |Allowance for Uncollectible accounts balance |\$1,100 | | | | | | | | |Net Accounts receivable (14000 less 1100) |\$12,900 | | | | | | | |(b) |Accounts Receivables |\$25,700 | | | |Allowance for Uncollectible accounts balance |\$2,300 | | | |...