PM Jonathan Sows htt en0 Satem6 Help I 1. Sandhill Company\'s unadjusted trial b

Question

PM Jonathan Sows htt en0 Satem6 Help I 1. Sandhill Company's unadjusted trial balance at December 31, 2017, Included the following accounts Accounts receivable Allowance for doubtful accounts Net sales $52,100 $6,350 1,223,900 Sandhill Company estimates uncollectible accounts to be 5% of gross accounts receivable. Determine its bad debt expense for 2017 Bad debt expense for 2017 2605 2. An analysis and aging of Teal Corp, accounts recelvable at December 31, 2017, disclosed the following. 181,850 1,759,600 127,290 Accounts receivable Allowance for doubtful accounts (per books) What is the net realizable value of Teal's receivables at December 31, 2017 The net realizable values 20 bo 3

Explanation / Answer

1. Accounts receivable $52100

Uncollectible 5%

Baddebts $2605.

2. Accounts receivable $1759600

Uncollectible amount ($181850)

Net realisable value $1577750

3. Beginning allowance for doubtful accounts $16450

accounts written off $7750

customer accounts written off ($32200)

Bad debts expense $57960

Ending allowance of doubtful accounts $49960.

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