Accounts Receivable-A. Hopkins 3,000 Bad debts expense 3,000 Cash 3,000 Accounts Receivable-A. Hopkins 3,000 Cash Accounts Receivable-A. Hopkins Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 3,000 3,000 3,000 3,000 O Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins 3,000 3,000 Allowance for Doubtful Accounts Bad debts expense 3,000 3,000 Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $3,000 uncollectible account of its customer, A. Hopkins. The entry or entries Gideon makes to record the write off of the account on May 3 is: Multiple Choice Accounts Receivable-A. Hopkins 3,000 Bad debts expense 3,000 Cash 3,000 Accounts Receivable-A. Hopkins 3,000 O Cash Accounts Receivable-A. Hopkins. Accounts Receivable-A. Hopkins Allowance for Doubtful Accounts 3,000 3,000 3,000 3,000 Allowance for Doubtful Accounts Accounts Receivable-A. Hopkins 3,000 3,000

From page 5-3 of the VLN, what is the appropriate relationship to compute net accounts receivable?   Accounts receivable - Allowance for uncollectible accounts         Accounts receivable - bad debt expense         Accounts receivable - accumulated depreciation

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Calculate the total estimated uncollectibles based on the below information. Accounts receivable % uncollectible Estimated Bad debts Total $307,100 $ 0-30 $100,200 1% $ 31-60 $65,900 4% Number of Days Outstanding $ 61-90 $59,800 5% 91-120 $44,600 8% $ Over 120 $36.600 20%

Accounts Receivable Beg. Bal.        $   187 18                                  150   6                                    64 15   19 End. Bal.       $       ?     Which of the following is an accurate description of the transactions effecting Accounts Receivable? Group of answer choices A. Customers of Careful charged more on their accounts than they paid. B. Customers of Careful paid more on their accounts than they charged. C. Careful incurred more debt than if paid off. D. Carefeul paid off debt. the ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 credit

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At what amount will accounts receivable for Anderson Company be reported on the balance sheet if the gross receivable balance is $52,000 and the allowance for doubtful accounts is estimated at 4% of gross receivables? Select one: A. $28,200 B. $49,920 C. $52,960 D. $47,000

1. From page 5-4 of the VLN, when using the percent of receivables method, the math of multiplying accounts receivable by the percent of uncollectible accounts directly calculates: Group of answer choices A. The ending balance of the allowance for uncollectible accounts. B. Bad debt expense C. Net accounts receivable D. The amount to use in the adjusting entry to recognize bad debt expense 2. From page 5-4 of the VLN, what is the appropriate amount to record for bad debt expense when the company records the adjusting entry on 12/31? 3. Using the data from page 5-4 of the VLN, assume that instead of having a $500 credit balance in the Allowance for Uncollectible Accounts (AUA), the company had a $600 credit balance in the account. How would that affect the ending balance in the AUA after the company prepared the adjusting entry and posted it to the AUA? Group of answer choices A. The higher balance before the adjusting entry would cause the ending balance in the AUA to…

QUESTION 10 Match the term on the left to the appropriate classification or description on the right. v Allowance for doubtful accounts A. Discounts for early payment of A/R, recorded as contra- revenues v Net accounts receivable B. An account that the firm credits when it records bad debt v Sales discounts expense v Write-offs of A/R C. Entries that reduce gross accounts receivable D. Gross accounts receivable minus Allowance for doubtful accounts

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