. FLORES Company, wholesaler, uses the aging method to estimate bad debt loss or impairment loss. The following schedule of aged accounts receivable was prepared at December 31, 2016: Age of Accounts Amounts Ave. % of Uncollectible 0-30 days 561,600 0.48% 31-60 days 196,100 1.04% 61-90 days 88,400 10.40% 91-120 days 18,500 50.70% 9,600 78.12% Over 120 days Total 874,200 What is the amount of impairment loss (bad debts expense)?

. FLORES Company, wholesaler, uses the aging method to estimate bad debt loss or impairment loss. The following schedule of aged accounts receivable was prepared at December 31, 2016: Age of Accounts Amounts Ave. % of Uncollectible 0-30 days 561,600 0.48% 31-60 days 196,100 1.04% 61-90 days 88,400 10.40% 91-120 days 18,500 50.70% 9,600 78.12% Over 120 days Total 874,200 What is the amount of impairment loss (bad debts expense)?

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Description: What is the amount of impairment loss (bad debts expense)? . FLORES Company, wholesaler, uses the aging method to estimate bad debt loss or impairment loss. Thefollowing schedule of aged accounts receivable was prepared at December 31, 2016:Age of Ac

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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