The Miller Company earned $190,000 of revenue on account during Year 1. There was no beginning balance in the accounts receivable and allowance accounts. During Year 1, Miller collected $136,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account. What is the amount of uncollectible accounts expense that will be recognized on the Year 1 income statement? Multiple Choice O O OO $5,700 $1,320 $54,000 $4,080

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You are appointed as the accountant of LALA-BTS Company. You noted that the Company estimated that 3% of its credit sales will not be collectible. Further documents showed the following balances before adjustments: •Credit Sales P2,500,000 •Accounts Receivable P300,000 •Allowance for doubtful accounts - 10,000 debit Determine the net realizable value of the accounts receivable.

At the beginning of 2018 Evan Company had a $1,958 balance in its accounts receivable account and a $448 balance in allowance for doubtful accounts. During 2018, Evan experienced the following events. (1) Earned $4,577 of revenue on account. (2) Collected $1,505 cash from accounts receivable. (3) Wrote-off $339 of accounts receivable as uncollectible.  Evan estimates uncollectible accounts to be 3% of sales. Based on this information, the December 31, 2018 adjusted balance in the allowance for doubtful accounts is

! Required information [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $ 280,000 $ 700,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $210,000 debit $ 2,500 debit View previou 2. Bad debts are estimated to be 2% of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31 balance sheet. Current assets: Accounts receivable Less: Allowance for doubtful accounts $

GG Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $700,000 and credit sales are $2,500,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Company make to record the bad debts expense? Select one: a. The answer does not exist b. Bad Debt Expense .25,000 Allowance for Doubtful Accounts 25,000 С. Bad Debt Expense .32,000 Allowance for Doubtful Accounts 32,000 d. Bad Debt Expense 25,000 Accounts Receivable 25,000 е. Bad Debt Expense .32,000 Accounts Receivable 32,000

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Charlston Inc. has accounts receivable of $110,000 in an allowance for doubtful accounts of $17,000. If it writes off a customer account balance of $1700 what is the amount of its net accounts receivable? A) 93,000 B) 108,300 C) 91,300 D) 110,000

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In the first year of operations, Ralph's Repair Service recognized $482,000 of service revenue earned on account. The ending accounts receivable balance was $88,900. Ralph estimates that 2% of sales on account will not be collected. During the year, Ralph wrote off a $200 receivable that was determined to be uncollectible. Assume there were no other transactions affecting accounts receivable. Required: a. What amount of cash was collected in Year 1? b. What amount of uncollectible accounts expense was recognized In Year 1? c. What will be Ralph's net realizable value of receivables on the December 31, Year 1 balance sheet? a. Cash collected b. Uncollectible accounts expense c. Net realizable value of receivables