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Question

Connect e The Followng Informati', x C connect.htrri I https://new cor Down nad music, Secure ::: Apps Ro k marks m- RU Usemame Rlackboard earn The Ricklist Watch O "atm Ma es Onlir HRU Port -Top 100 M ies of A How to DrortNate To TH2 w r Rase l my it Chap 5 Prob 5-23 & 5-24 6 Help Save & Exit Submit Check my work The following information is available for Quality Book Sales's sales on account and accounts receivable Accounts Reccivable Balance, nuary 1, 2018 Allowance for Doubtful Accounts, January 1, 2018 Sales on Account, 2 18 Collections of Accounts Receivable, 2018 125,80a 3,618 99,11B 922,119 10 points cBook After several collection attempts, Quality Book Sales wrote off S2,570 of accounts that could not be collected. Quality Book Sales References estimates thet 0.50 percent of sales on account will be uncollectible Required a. Compute the following amounts: (1) Using the allowance method, the amount of uncollectible accounts expense for 2018. (Round your final answer to nearest whole dollar amount.) (2) Net reelizable velue of receivables at the end of 2018. (Round intermediate calculations final answer to nearest whole dollar amount.) uncollectible accounts expense Net reallzable value 2. Hill O Type here to search 11/8/2017

Explanation / Answer

Answer to 1

Answer to 2

Particulars Amt Provision to be made
(899110 x 0.50%)    4,495.55 Less: provision already made    3,610.00 Add: amount written off    2,570.00 Uncollectible Expense    3,456

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