e Se C uring ate ov justed) ate ec oose f More Info Accounts Receivable and aging schedule to be used at December 31, 2019 Age of Accounts 31-60 Days 61-90 Days 50,000 $ 11,000 $ 2% 15% Accounts Receivable $235,000 Estimated percent uncollectible i Data Table 1-30 Days S 130,000 $ 0.2% Print Done At September 30, 2019: Accounts Receivable. Allowance for Uncollectible Accounts Print Done S Over 90 Days 44.000 35% - X 249,000 (8,200) based on the aging of During the year, First Data Communications estimates Uncollectible-account expense at 1% of credit sales. At year-end (December 31), the company ages its receivables and adjusts the balance in the Allowance for Uncollectible Accounts to correspond to the following aging schedule. (Click the icon to view the Accounts Receivable balance and aging schedule to be used at December 31, 2019.) Read the requirements. More Info Wrote off as uncollectible the $1,700 account receivable from Black Carpets and the $200 Nov 30 account receivable from Priceless Antiques. Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible-account Dec 31 expense at - X year-end, based on the aging of receivables Print Done

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Bad Debts

At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.  

Accounts Receivable

The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.