Problem 5-19 (AICPA Ådaptea) Flappable Company began operations on January 1, 201 The entity provided for doubtful accounts based on 5% annual credit sales in prior years. On January 1, 2019; th entity changed the method of determining the allowance f doubtful accounts using an aging schedule. 2019 2018 2017 201 Credit sales Collections excluding recovery Accounts written off during year Recovery of accounts written off 15,000,000 9,500,000 8,000,000 6,000,00 11,700,000 8,200,000 6,700,000 4,500.00 120,000 40,000 200,000 100,000 80,000 35,000 Non None Days Account Outstanding Amount Probability of Collection 95% 30 days or less Between 31 and 60deve 3,000,000 1,500,000 80%

Problem 5-19 (AICPA Ådaptea) Flappable Company began operations on January 1, 201 The entity provided for doubtful accounts based on 5% annual credit sales in prior years. On January 1, 2019; th entity changed the method of determining the allowance f doubtful accounts using an aging schedule. 2019 2018 2017 201 Credit sales Collections excluding recovery Accounts written off during year Recovery of accounts written off 15,000,000 9,500,000 8,000,000 6,000,00 11,700,000 8,200,000 6,700,000 4,500.00 120,000 40,000 200,000 100,000 80,000 35,000 Non None Days Account Outstanding Amount Probability of Collection 95% 30 days or less Between 31 and 60deve 3,000,000 1,500,000 80%

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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