Oriole Company has accounts receivable of $93,600 at March 31,
2022. Credit terms are 2/10, n/30....
Oriole Company has accounts receivable of $93,600 at March 31,
2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a
$2,216 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.
Balance, March 31
Estimated Percentage
Uncollectible
Age of Accounts
2022
2021
Current
$63,800
$69,450
2
%
1–30 days past due
12,200
7,740
5
31–90 days past...
Godfreid Company has accounts receivable of $95,400 at March 31,
2020. Credit terms are 2/10, n/30....
Godfreid Company has accounts receivable of $95,400 at March 31,
2020. Credit terms are 2/10, n/30. At March 31, 2020, 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 estimate of
bad debts is shown below.
Age of Accounts
Balance,
March 31
Estimated Percentage
Uncollectible
2020
2019
Current
$65,000
$75,000
2%
1–30 days past due
12,900
8,000
5
31–90 days past due
10,100...
Menge Company has accounts receivable of $108,600 at March 31.
Credit terms are 2/10, n/30. At...
Menge Company has accounts receivable of $108,600 at March 31.
Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful
Accounts has a credit balance of $1,500 prior to adjustment. The
company uses the percentage-of-receivables basis for estimating
uncollectible accounts. The company's estimate of bad debts is
shown below. Age of Accounts Balance, March 31 Estimated Percentage
Uncollectible 1–30 days $71,900 3% 31–60 days 19,700 7% 61–90 days
9,400 23% Over 90 days 7,600 51% 108,600 Determine the total...
Hadara Company has accounts receivable of $93,100 at March 31.
Credit terms are 2/10, n/30. At...
Hadara Company has accounts receivable of $93,100 at March 31.
Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful
Accounts has a credit balance of $1,200 prior to adjustment. The
company uses the percentage-of-receivables basis for estimating
uncollectible accounts. Use the below aging schedule to
determine:
Age of Accounts
Balance, March 31
Estimated Percentage Uncollectible
1–30 days
$60,000
2%
31–60 days
17,600
5%
61–90 days
8,500
20%
Over 90 days
7,000
50%
Total
$93,100
The Bad debt expense...
Hadara Company has accounts receivable of $93,100 at March 31.
Credit terms are 2/10, n/30. At...
Hadara Company has accounts receivable of $93,100 at March 31.
Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful
Accounts has a credit balance of $1,200 prior to adjustment. The
company uses the percentage-of-receivables basis for estimating
uncollectible accounts. Use the below aging schedule to determine:
Age of Accounts Balance, March 31 Estimated Percentage
Uncollectible
1–30 days $60,000 2% 31–60 days 17,600 5% 61–90 days 8,500 20%
Over 90 days 7,000 50% Total $93,100
The Bad debt expense...
Hadara Company has accounts receivable of $93,100 at March 31.
Credit terms are 2/10, n/30. At...
Hadara Company has accounts receivable of $93,100 at March 31.
Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful
Accounts has a credit balance of $1,200 prior to adjustment. The
company uses the percentage-of-receivables basis for estimating
uncollectible accounts. Use the below aging schedule to
determine:
Age of Accounts
Balance, March 31
Estimated Percentage Uncollectible
1–30 days
$60,000
2%
31–60 days
17,600
5%
61–90 days
8,500
20%
Over 90 days
7,000
50%
Total
$93,100
Please Solve As soon...
The following is an aging schedule for a company’s accounts
receivable as at December 31, 2019:...
The following is an aging schedule for a company’s accounts
receivable as at December 31, 2019:
Number of days past due
Customer's name
Total amount owed
Current (not yet due)
1–30
31–60
61–90
Over 90
Aber
$32,000
$9,000
$23,000
Bohr
46,000
$46,000
Chow
52,000
15,000
22,000
$15,000
Datz
22,000
$22,000
Others
158,000
95,000
15,000
13,000
15,000
20,000
$310,000
$156,000
$46,000
$36,000
$30,000
$42,000
Estimated percentage
that will be uncollectible
3%
6%
10%
25%
50%
Estimated value
of uncollectibles
$39,540
$4,680...
Company had a $300
balance in the Allowance for Doubtful Accounts account at December
31, 2020,...
Company had a $300
balance in the Allowance for Doubtful Accounts account at December
31, 2020, before the current year's adjustment for uncollectible
accounts. An aging of the accounts receivable revealed the
following:
Estimated Percentage
Uncollectible
Current Accounts
$170,000
1%
1–30 days past due
15,000
3%
31–60 days past due
12,000
6%
61–90 days past due
5,000
15%
Over 90 days past due
9,000
30%
Total Accounts Receivable
$211,000
Required
Calculate the estimated total uncollectable amount
Using a tabular summary,...
Jarden Company has credit sales of $3,000,000 for year 2017. On
December 31, 2017, the company’s...
Jarden Company has credit sales of $3,000,000 for year 2017. On
December 31, 2017, the company’s Allowance for Doubtful Accounts
has an unadjusted credit balance of $18,424. Jarden prepares a
schedule of its December 31, 2017, accounts receivable by age. On
the basis of past experience, it estimates the percent of
receivables in each age category that will become uncollectible.
This information is summarized here.
December 31, 2017
Accounts Receivable
Age of
Accounts Receivable
Expected Percent
Uncollectible
$
600,000
Not...
EXERCISE 5
Molina Company had a $700 credit balance in Allowance for
Doubtful Accounts at December...
EXERCISE 5
Molina Company had a $700 credit balance in Allowance for
Doubtful Accounts at December 31, 2015, before the current year's
provision for uncollectible accounts. An aging of the accounts
receivable revealed the following:
Estimated
Percentage
Uncollectible
Current
Accounts
$120,000
1%
1–30 days past
due
20,000
3%
31–60 days past
due
10,000
6%
61–90 days past
due
10,000
12%
Over 90 days
past
due
8,000 30%
Total Accounts...