The aging of accounts receivable shows the following data: 0-60 days due: balance is $74,500 with a 3% estimated uncollectible Over 60 days past due: balance is $4,000 with a 24% estimated uncollectible The current balance of Allowance for Bad Debits is a $500 CR Using the aging of receivables method, what is the balance of Allowance for Bad Debt? $3,195 DR $3,195 CR $3,695 CR $2,695 CR
The aging of accounts receivable shows the following data: 0-60 days due: balance is $74,500 with a 3% estimated uncollectible Over 60 days past due: balance is $4,000 with a 24% estimated uncollectible The current balance of Allowance for Bad Debits is a $500 CR Using the aging of receivables method, what is the balance of Allowance for Bad Debt? $3,195 DR $3,195 CR $3,695 CR $2,695 CR
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter8: Revenue Recognition, Receivables, And Advances From Customers
Section: Chapter Questions
Problem 24E
Related questions
Question
100%
The aging of
0-60 days due: balance is $74,500 with a 3% estimated uncollectible
Over 60 days past due: balance is $4,000 with a 24% estimated uncollectible
The current balance of Allowance for Bad Debits is a $500 CR
Using the aging of receivables method, what is the balance of Allowance for
$3,195 DR
$3,195 CR
$3,695 CR
$2,695 CR
AI-Generated Solution
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337272124/9781337272124_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial And Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337902663/9781337902663_smallCoverImage.jpg)
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,