14.As of January 1, 2021, Barley Co. had a credit balance of $539,000 in its allowance for uncollectible accounts. Based on experience, 1% of Farley's gross accounts receivable have been uncollectible. In 2021, Farley wrote off $669,000 of accounts receivable. Barley's gross accounts receivable as December 31, 2021 is $18,950,000. 15.How much bad debt expense should Barley record for 2021? Group of answer choices $319,000 $728,500 $59,500 $189,500

At December 31, 2021, Pina Co. reported the following information on its balance sheet. Accounts receivable   $960,100 Less: Allowance for doubtful accounts   78,200 During 2022, the company had the following transactions related to receivables. 1.   Sales on account   $3,739,000 2.   Sales returns and allowances   49,400 3.   Collections of accounts receivable   2,814,000 4.   Write-offs of accounts receivable deemed uncollectible   90,500 5.   Recovery of accounts previously written off as uncollectible   28,000   1. Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.)   2 .Enter the January 1, 2022, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use…

On January 1, 2018, Keiasia Company’s Accounts Receivable and the Allowance for Uncollectible Accounts showed balances of $24,000 and $1,200 respectively. During the year, the company reported $64,000 of credit sales, and cash collections of receivables amounted to $58,000. During the year, the company wrote of $1,400 of delinquent accounts. The company estimates that it will be unable to collect 5% of the year-end accounts receivable balance. The amount of bad debts expense recognized in the 2018 income statement will be: A. $1,230 B. $1,630 C. $230 D. $500 Answer is B, how do you get to 1,630

As of January 1, 2021, Company had a credit balance of 535,000 in its allowance for uncollectible accounts. Based on experience, 2% of the company's gross accounts receivable have been uncollectibleDuring 2021, the company wrote off 665,000 of accounts receivable . The company's gross accounts receivable as December 31, 2021, is 18,750,000 In its December 31, 2021, balance sheet, what amount should the company report as allowance for uncollectible accounts?