For Each Of The Following Independent Situations Compute Net Account Receivables
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. …show more content…
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
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. …show more content…
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