The two methods for calculating uncollectable accounts receivable are: the metho
ID: 2597479 • Letter: T
Question
The two methods for calculating uncollectable accounts receivable are: the method 18. off method and the 19. Under the Direct Write off method for uncollectable accounts receivable, the journal entry for $200 owed by a customer that won't pay would be: Debt Expense $200 Accounts Receivable $200 Under the Allowance Method, the computation of the Allowance for Doubtful 20. Accounts is calculated by using the 30 days, 60 days or 90 days outstanding. method, often based upon receivables that are Extra Credit: What journal entry would be used to set up the allowance account for $10,000. Please show all work as partial credit may be given at the Professor's discretion. You may, if necessary, use the back of the exam pages to show your work, provided you note same.Explanation / Answer
Solution-18: The two methods for calculating uncollectible accounts receivables are: the write off method and the allowance method.
Solution-19:
Solution-20: Under the allowance method, the computation of the allowances for doubtful accounts is calculated by using percentage method, often based upon receivables that are 30 days, 60 days or 90 days outstansing.
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