m Il Chapters 6 to 8 Saved Help Save & Exit Sub Oceanside Company uses the balan

Question

m Il Chapters 6 to 8 Saved Help Save & Exit Sub Oceanside Company uses the balance sheet approach in estimating uncollectible accounts expense. Its Allowance tor Doubttul Accounts has a $1.700 credit balance prior to adjusting entries. It has just completed an aging analysis of accounts receivable at December 31, 2018 This analysis disclosed the following information Age Group Total $62,000 $32,000 S18,000 Percentage Considered Uncollectible 1% Not yet due 1-30 days past due ints 31-60 past due What is the appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, 2018? Multiple Choice $2.620. $1,340 $48.000 $112.000

Explanation / Answer

Answer is 2620

% of Estimated uncollectable Estimated uncollectable 62000 1% 620 32000 4% 1280 18000 4% 720 Allowance for doubt full balance 2620

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

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