Bartel Co has provided you with the following information for the year ended December 31, 2016 .Net credit sales are $248,000 for the year Based on historical data, management expects that 2.0% of credit sales will be uncollectible. . Based on historical data, management expects that 5.0% of outstanding receivables will be uncollectible • Allowance for Doubtful Accounts (XA) has a credit balance of $600 at January 1, 2016. • Accounts Receivable (A) has a debit balance of $66,000 at December 31, 2016. . Bartell Co wrote off $2,000 of Accounts Receivable as uncollectible Estimate Bad Debt Expense for 2016 using the percentage of credit sales method. Round your answer to the nearest dollar: $ Estimate Bad Debt Expense for 2016 using the aging of receivables method Round your answer to the nearest dollar: $
Bartel Co has provided you with the following information for the year ended December 31, 2016 .Net credit sales are $248,000 for the year Based on historical data, management expects that 2.0% of credit sales will be uncollectible. . Based on historical data, management expects that 5.0% of outstanding receivables will be uncollectible • Allowance for Doubtful Accounts (XA) has a credit balance of $600 at January 1, 2016. • Accounts Receivable (A) has a debit balance of $66,000 at December 31, 2016. . Bartell Co wrote off $2,000 of Accounts Receivable as uncollectible Estimate Bad Debt Expense for 2016 using the percentage of credit sales method. Round your answer to the nearest dollar: $ Estimate Bad Debt Expense for 2016 using the aging of receivables method Round your answer to the nearest dollar: $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Bartell Co has provided you with the following information for the year ended December 31, 2016
• Net credit sales are $248,000 for the year
. Based on historical data, management expects that 2.0% of credit sales will be uncollectible.
. Based on historical data, management expects that 5.0% of outstanding receivables will be uncollectible.
• Allowance for Doubtful Accounts (XA) has a credit balance of $600 at January 1, 2016.
• Accounts Receivable (A) has a debit balance of $66,000 at December 31, 2016.
Bartell Co wrote off $2,000 of Accounts Receivable as uncollectible.
Estimate Bad Debt Expense for 2016 using the percentage of credit sales method. Round your answer to the nearest dollar: $
Estimate Bad Debt Expense for 2016 using the aging of receivables method Round your answer to the nearest dollar: $1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd42bce21-b8fa-4bfa-81d4-f30b17b60c59%2Fee259c4c-84ca-4609-9261-3e98636f4ea8%2Fjpn0c8c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Bartell Co has provided you with the following information for the year ended December 31, 2016
• Net credit sales are $248,000 for the year
. Based on historical data, management expects that 2.0% of credit sales will be uncollectible.
. Based on historical data, management expects that 5.0% of outstanding receivables will be uncollectible.
• Allowance for Doubtful Accounts (XA) has a credit balance of $600 at January 1, 2016.
• Accounts Receivable (A) has a debit balance of $66,000 at December 31, 2016.
Bartell Co wrote off $2,000 of Accounts Receivable as uncollectible.
Estimate Bad Debt Expense for 2016 using the percentage of credit sales method. Round your answer to the nearest dollar: $
Estimate Bad Debt Expense for 2016 using the aging of receivables method Round your answer to the nearest dollar: $1
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