Practice At the end of the year, D Company's balance in the allowance for uncollectible accounts (AUA) was $500 (credit) before adjusting entries. The balance in Accounts Receivable is $30,000. The company estimates that 15% of the accounts will not be collectible. Prepare the adjusting entry for uncollectible accounts using the precent of receivables method. 12/31 30,000 A/R Bad Debt Expense 30,000 Allowance for uncollectible accounts 500 What should D report as bad debt expense on their 12/31 Income Statement? D would report net accounts receivable on their 12/31 Balance Sheet at: A/R Allowance for uncollectible accounts 500 $ $ Allowance for uncollectible accounts

Allowance for Doubtful Accounts has a debit balance of $439 at the end of the year (before adjustment), and Bad Debt Expense is estimated at 1% of sales. If net credit sales are $928,100, the amount of the adjusting entry to record the estimate of the uncollectible accounts is a.$8,842 b.$9,720 c.$439 d.$9,281

Beginning balances: Allowance for Doubtful Accounts - $45,000 Accounts Receivable - $3,000,000 Bad Debt percent of credit sales – 1.5% Total Credit Sales – $38,000,000 1) Estimate bad debt expense using percent of sales method 2) Record transaction. 3) Show new adjusted allowance account 4) In January the next year, $48,000 is determined to be uncollectible. Show the entry and adjust accounts.

[ * Mazie Supply Company uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $134,500, and it estimates that 4% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (Algo) Percent of accounts receivable method LO P3 (a) a $2,287 credit balance before the adjustment. (b) a $673 debit balance before the adjustment. View transaction list

12/31/2020: During 2020, $10,000 in accounts receivable were written off. At the end of the second year of operations, Yolandi Company had $1,000,000 in sales and accounts receivable of $400,000.  XYZ’s management has estimated that 1.5% of sales will be uncollectible.  For the end of 2020, after the adjusting entry for bad debts was journalized, what is the balance in the following accounts: Bad debt expense:  Allowance for doubtful accounts:  For the end of 2020, what is the company's net realizable value?

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Chapter 5: Receivables and Sales A company reports the following amounts at 12/31/YR2 (before any year-end adjustment). Management estimates 8% of the receivables will not be collectible. The company uses the percent-of-receivables method to determine bad debt expense. Credit sales for the year 1,000,000 Accounts receiyable (A/R) 90,000 Allowance for uncollectible accounts ("AUA") 1,800 Credit Bal. Estimated percent uncollectible. 6.0% Create T accounts for A/R, AUA and Bad debt expense to help with the following questions. Accounts Receivable AUA Bad Debt Expense How much of the Accounts Receivable does management not expect to collect? What amount will the company record as bad debt expense for the YR2? What amount will be shown on the 12/31 balance sheet for Net Accounts Receivable? 1 2 3 On January 5, YR3, the company writes off an A/R they determined is uncollectible. After the write off, what is the balance in AUA? The 4 amount of the write-off is: 200 After the write off, what…

nalysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $565,000, Allowance for Doubtful Accounts has a credit balance of $5,000, and sales for the year total $2,540,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $26,000. a.  Determine the amount of the adjusting entry for uncollectible accounts.$fill in the blank 1 b.  Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c.  Determine the net realizable value of accounts receivable.$fill in the blank 5

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $440,000, Allowance for Doubtful Accounts has a debit balance of $4,000, and sales for the year total $1,980,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $18,400. a. Determine the amount of the adjusting entry for uncollectible accounts.$fill in the blank 1 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c. Determine the net realizable value of accounts receivable.$fill in the blank 5    Answer with all work

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $660,000, Allowance for Doubtful Accounts has a credit balance of $6,000, and sales for the year total $2,.970,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $25.200. a. Determine the amount of the adjusting entry for uncollectible accounts. b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense c. Determine the net realizable value of accounts receivable.