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

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter14: Accounting For Uncollectible Accounts Receivable

Section: Chapter Questions

Problem 1AP

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1. A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding Accounts Receivable Est. Percent Uncollectiable 1-30 days $62,000 2% 31-60 days $42,000 5% 61-90 days $25,000 11% Over 90 days $7,000 52% 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. $10,730 B. $8,730 C. $9,730 D. $1,240 Please show all steps. Thanks
A year end review of Accounts Receivable and estimated uncollectible percentages revealed the following: attached in ss below thankas gwroiwrnio
A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: Days Outstanding 1-30 days 31-60 days 61-90 days Over 90 days Accounts Est. Percent Receivable Uncollectible $65,000 3% $43,000 5% $25,000 10% $6,000 52% Before the year-end adjustment, the credit balance in Allowance for Uncollectible Accounts was $700. Under the aging-of-receivables method, the balance in the Allowance for Uncollectible Accounts will be after the adjusting entry is made. OA. $9,020 OB. $1,250 OC. $10,420 OD. $9,720
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