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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: 5 months ago.
Category: Single Problem
Expert:  F. Naz replied 5 months ago.
Have a nice day

Click here for solution
Customer: replied 5 months ago.


I am unable to open this file.. is there another file extension you can attach? I am happy with a jpg screenshot if nothing else..

Expert:  F. Naz replied 5 months ago.
http://www.mediafire.com/download/74pqkb5uwz6xx88/bad_debts_a_and_b.xls
Your answer is at above link.
F. Naz, B.Com
Category: Single Problem
Satisfied Customers: 4016
Experience: Have completed B.Com and CA Finalist
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