The Nebula Company manufactures a variety of retail store supplies, including bags, price tags, shelf labels, and hangers. The following is Nebula's accounts receivable aging schedule in an Excel pivot table. Click the icon to view the pivot table.) Read the requirements. 1. What is the total balance of Nebula's accounts receivable? Total balance of Nebula's Accounts Receivable = $ 191,354 2. What is the amount of accounts receivable that Nebula expects to be uncollectible, based on the aging schedule pictured? Amount of accounts receivable that Nebula expects to be uncollectible, based on the aging schedule = 2,869 3. If the credit balance in the Allowance for Uncollectible Accounts is $1,200 before year-end adjustments, what will be the amount of the adjusting entry to recognize uncollectible accounts expense? The amount of the adjusting entry to recognize uncollectible accounts expense =
The Nebula Company manufactures a variety of retail store supplies, including bags, price tags, shelf labels, and hangers. The following is Nebula's accounts receivable aging schedule in an Excel pivot table. Click the icon to view the pivot table.) Read the requirements. 1. What is the total balance of Nebula's accounts receivable? Total balance of Nebula's Accounts Receivable = $ 191,354 2. What is the amount of accounts receivable that Nebula expects to be uncollectible, based on the aging schedule pictured? Amount of accounts receivable that Nebula expects to be uncollectible, based on the aging schedule = 2,869 3. If the credit balance in the Allowance for Uncollectible Accounts is $1,200 before year-end adjustments, what will be the amount of the adjusting entry to recognize uncollectible accounts expense? The amount of the adjusting entry to recognize uncollectible accounts expense =
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:The Nebula Company manufactures a variety of retail store supplies, including bags, price tags, shelf labels, and hangers. The following is Nebula's accounts receivable aging schedule in an Excel pivot table.
(Click the icon view the pivot table.)
Read the requirements.
What is the total balance of Nebula's accounts receivable?
Total balance of Nebula's Accounts Receivable =
$
191.354
∞
2. What is the amount of accounts receivable that Nebula expects to be uncollectible, based on the aging schedule pictured?
Amount of accounts receivable that Nebula expects to be uncollectible, based on the aging schedule =
S
2,869
3. If the credit balance in the Allowance for Uncollectible Accounts is $1,200 before year-end adjustments, what will be the amount of the adjusting entry to recognize uncollectible accounts expense?
The amount of the adjusting entry recognize uncollectible accounts expense =

Transcribed Image Text:3 Sum of invoice total
4 Row Labels
5 Carlton General Store
6 Favre Gifts Co.
7 Haven & Co.
8 Pacey Parties
9 Serene Gifts
10 The Yellow Yak
11 Trent Supply
12 Ten Toes & More
13 Black Onyx Shoppe
14 Grand total
Estimated percent
15 uncollectible
Allowance for
Uncollectible Accounts
16 should be
Column Labels
01 - 30 days
$
$
$
$
$
$
$
$
$
$
$
33,380 $
8,465
10,999 $
4,938
6,827 $
63,155 $
691
31-60 days
17,724 $
5,988 $
152,167 $
0.25%
с
380 $
3,607
2,844 $
2,745 $
18,006 $
61-90 days 91 days or more Grand Total
$
$
1,637
2,202
31,041 $
3.0%
D
931 $
2,510
2,077 $
203 $
4,790 $
15.0%
E
719 $
$
$
3,075 $
281 $
$
25.0%
$
$
3,356 S
839 $
36,987
8,465
16,353
4,938
14,724
81,645
691
19,361
8,190
191,354
2,869
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