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linda_us, Master's Degree
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The general ledger account for Accounts Receivable shows a

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The general ledger account for Accounts Receivable shows a debit balance of $40,000. The Allowance for Uncollectible Accounts has a credit balance of $2,000. Net sales for the year were $250,000. In the past, 3 percent of net sales have proved uncollectible. An aging of accounts receivable results in an estimate of $9,000 of uncollectible accounts receivable.
Calculate (1) Uncollectible Accounts Expense and (2) the ending balance of the Allowance for Uncollectible Accounts using (a) the percentage of net sales method and (b) the accounts receivable aging method.
Create an Excel spreadsheet to submit your assignment.
Submitted: 1 year ago.
Category: Business and Finance Homework
Expert:  linda_us replied 1 year ago.
Hi

Welcome again. I can help you with this question as well. Please let me know your deadline?
Customer: replied 1 year ago.

If you could please have the question answered by tomorrow by 5pm that would be great.

Expert:  linda_us replied 1 year ago.
I will post solution in 30 minutes but please remember to rate my solution by clicking smiley face for this and previous post so that I get paid for my effort. If you have any question from the previous solution please let me know.
Customer: replied 1 year ago.

thank you. If you could please make sure it is in excel format that would be great.

Expert:  linda_us replied 1 year ago.
I will post the solution in excel format. Did you get my above message?
Customer: replied 1 year ago.

Linda,


 


Can you please upload in an excel spreadsheet.


 


Thank you!

Expert:  linda_us replied 1 year ago.
I have provided the answer in excel sheet in the above link.

Here it is again

https://www.box.com/s/u8t9ayyt4emfpy1i5alg
linda_us, Master's Degree
Satisfied Customers: 7014
Experience: A tutor for Business, Finance, Accounts and other related topics.
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