14. On January 10, a customer's account balance of $800 is written off as uncollectible. Record the write-off.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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14. Record the write-off. Choose * Account Payable * Allowance for Uncollectible Accounts * Sales Returns and Allowanced * Bad debt expense * Cash * Accounts Receivable
14. Record the write-off.
Account to be
[ Choose ]
debited
Account to be
[ Choose ]
credited
Transcribed Image Text:14. Record the write-off. Account to be [ Choose ] debited Account to be [ Choose ] credited
Use the following to answer questions 12 – 15
At December 31, KC Co reported accounts receivable of
$56,000 and an allowance for uncollectible accounts of
$300 (credit).
suggests that the allowance for uncollectible accounts
should be 8% of accounts receivable.
An analysis of accounts receivable
12.
$4
Estimate
the
amount
of
uncollectible receivables:
13.
When recording the adjusting entry
for bad debt expense how much should Allowance for
Uncollectible
accounts
be
credited?
14. On January 10, a customer's account balance of $800
is written off as uncollectible. Record the write-off.
15.
$
If Net Accounts receivable were
$50,000 before the write-off, how much are Net
Accounts receivable AFTER the write-off?
Transcribed Image Text:Use the following to answer questions 12 – 15 At December 31, KC Co reported accounts receivable of $56,000 and an allowance for uncollectible accounts of $300 (credit). suggests that the allowance for uncollectible accounts should be 8% of accounts receivable. An analysis of accounts receivable 12. $4 Estimate the amount of uncollectible receivables: 13. When recording the adjusting entry for bad debt expense how much should Allowance for Uncollectible accounts be credited? 14. On January 10, a customer's account balance of $800 is written off as uncollectible. Record the write-off. 15. $ If Net Accounts receivable were $50,000 before the write-off, how much are Net Accounts receivable AFTER the write-off?
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