Vaughn Corporation's unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $863000 Allowance for Doubtful Accounts 15000 Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record? O $43150 ○ $15000 $28150 ○ $42400
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- Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts receivable. The uncollectible percentage is 3.1% for the income statement method and 4.5% for the balance sheet method. A. Record the year-end adjusting entry for 2018 bad debt using the income statement method. B. Record the year-end adjusting entry for 2018 bad debt using the balance sheet method. C. Assume there was a previous debit balance in Allowance for Doubtful Accounts of $20,550; record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method. D. Assume there was a previous credit balance in Allowance for Doubtful Accounts of $17,430; record the year-end entry for bad debt using the income statement method, and then the entry using the balance sheet method.Marigold Corp. unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $1140000 Allowances for Doubtful Accounts $22900 Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record? $56678 $32822 $57000 $34100etlock, Inc. unadjusted trial balance includes the following balances (assume normal balances): • Accounts receivable $1810000 • Allowance for doubtful accounts $37300 Bad debts are estimated to be 10% of outstanding receivables. What amount of bad debt expense will the company record? $141570 $143700 $186700 $181330
- Blossom Company unadjusted trial balance includes the following balances (assume normal balances): • Accounts Receivable $1130000 • Allowances for Doubtful Accounts $21400 Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record? $56500 $35100 $33822 $57678explain it properlyVaughn Manufacturing unadjusted trial balance includes the following balances (assume normal balances): • Accounts receivable $1840000 • Allowance for doubtful accounts $33700 Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record?
- Please help meBlue Spruce Corp. unadjusted trial balance includes the following balances (assume normal balances): • Accounts Receivable $1160000 • Allowances for Doubtful Accounts $24900 Bad debts are estimated to be 5% of outstanding receivables. What amount of bad debt expense will the company record? $55678 $31822 $58000 $33100 The financial statements of the Wildhorse Co. report net sales of $384000 and accounts receivable of $48000 and $36000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) 50.0 39.9 80.4 29.7 Windsor, Inc. had net credit sales during the year of $1128800 and cost of goods sold of $448000. The balance in accounts receivable at the beginning of the year was $122400 and at the end of the year was $149600. What was the accounts receivable turnover? 8.3 10.3 5.1 7.0Please do not give salutations in image format thankuh
- What amount should it debit bad debt expense?The following are the selected account balances of ABC Company taken from its trial balance as of December 31, 2020: Accounts Receivable P250,000 Allowance for Doubtful Accounts 25,000 Sales 12,000,000 Sales Returns and Allowances 120,000 Sales Discount 240,000 The bad debt accounts should be 2% of net Accounts Receivable. What is the net realizable value of Accounts Receivable? Select the correct response: P250,000 P245,000 P230,000 P220,500Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are RM250,000. If the balance of the Allowance for Doubtful Accounts is RM60,000 debit before adjustment, what is the amount of bad debts expense for that period? O A. RM250,000 B. RM60,000 O C. RM310,000 D. RM190,000