. 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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ChapterB: Bad Debts

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Problem 1P: Rogan Companys total sales on account for the year amounted to 327,000. The company, which uses the...

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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)?

Definition Definition Receivable amount that a company is owed, but did not receive, and which may not be receivable in future.

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