NOVA CC - ACC 211: Connect for Financial and Managerial Accounting with PROCTORIO PLUS
NOVA CC - ACC 211: Connect for Financial and Managerial Accounting with PROCTORIO PLUS
9th Edition
ISBN: 9781265725976
Author: John Wild; Ken Shaw
Publisher: McGraw-Hill Learning Solutions
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Chapter 7, Problem 4BTN
To determine

Aging of Receivable Method:

It refers to a technique that is used to calculate the accurate amount that has to be credited in allowance for doubtful account. It is done on the basis of the time period of an account receivable from which it was due. There are usually five time periods in this method which are:

  • 0 days past.
  • 1 to 30 days past.
  • 31 to 60 days past.
  • 61 to 90 days past.
  • Over 90 days past.

To estimate: The balance of the allowance for doubtful accounts using the aging of accounts receivable method and preparation of adjusting entry.

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Chapter 7 Solutions

NOVA CC - ACC 211: Connect for Financial and Managerial Accounting with PROCTORIO PLUS

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