$525,000 Accounts receivable Allowance Cash realizable value 20.000 Using the fo

Question

$525,000 Accounts receivable Allowance Cash realizable value 20.000 Using the following information: During 2013, sales on account were $145,000 and colecions on account were $10o.d0 Also during 2013, the company wrote off $8,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at $40,000. Bad debts expense for 2013 is $5,000. $8,000. $13,000 $40,000

Explanation / Answer

Answer : $13000 => Balance in Allowance for uncollectible accounts = 35000 - 8000 = $27000 Balance required in Allowance for uncollectible accounts = $40000 Bad Debts expense for 2013 = $40000 - $27000 = $13000

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.