2A year end review of Accounts Receivable and estimated uncollectible percentages revealed thefollowing:AccountsEst. PercentDays Outstanding1-30 daysReceivableUncollectible$62,0002%31-60 days$40,0004%61-90 daysOver 90 days$23,00011%$9,00050%Before the year-end adjustment, the credit balance in Allowance for UncollectibleAccounts was $1,000. Under the aging-of-receivables method, the Uncollectible-AccountExpense at year-end is:A) $10,870B) $8,870C) $1,240D) $9,870

This question deals with the calculation of uncollectible account expense that needs to be book. For…

)A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Accounts Receivable Est. Percent Days Outstanding 1-30 days Uncollectible $62,000 2% 31-60 days $40,000 4% 61-90 days $23,000 11% Over 90 days $9,000 50% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible-Account Expense at year-end is: A) $10,870 B) $8,870 C) $1,240 D) $9,870

)A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Accounts Receivable Est. Percent Days Outstanding 1-30 days Uncollectible $62,000 2% 31-60 days $40,000 4% 61-90 days $23,000 11% Over 90 days $9,000 50% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $1,000. Under the aging-of-receivables method, the Uncollectible-Account Expense at year-end is: A) $10,870 B) $8,870 C) $1,240 D) $9,870

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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Oo.151. Subject :- Account
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