FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

Question
Tamarisk, Inc. has accounts receivable of $96,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a
$2,244 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables
basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below.
Balance, March 31
Estimated Percentage
Age of Accounts
2022
2021
Uncollectible
Current
$66,000
$79,900
2 %
1-30 days past due
13,000
7,930
5
31-90 days past due
10,600
2,540
30
Over 90 days past due
6,900
1,060
50
$96,500
$91,430
(a)
Determine the total estimated uncollectibles at March 31, 2022.
The total estimated uncollectibles
$
expand button
Transcribed Image Text:Tamarisk, Inc. has accounts receivable of $96,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,244 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. Balance, March 31 Estimated Percentage Age of Accounts 2022 2021 Uncollectible Current $66,000 $79,900 2 % 1-30 days past due 13,000 7,930 5 31-90 days past due 10,600 2,540 30 Over 90 days past due 6,900 1,060 50 $96,500 $91,430 (a) Determine the total estimated uncollectibles at March 31, 2022. The total estimated uncollectibles $
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education