After aging the accounts receivable...?
1 – After aging the accounts receivable, it is estimated that $800 will not be collected and the allowance account has a credit set off before adjustments of $200. The adjust entry for estimating uncollectible account expense should be in the amount of ________.
A - $0
B - $600
C - $800
D - $1,000
2 – After aging the accounts receivable, it is estimated that $800 will not be collected and the allowance description has a debit balance in the past adjustments of $100. The adjusting entry for estimating uncollectible tale expense should be in the amount of ________.
A - $100
B - $700
C - $800
D - $900
Thank you very MUCH!
Answers: 1. if the 200 symmetry of allow. was the result from aging, it is the ending be a foil for that would be reflected in the harmonize sheet. so the answer will be D. 1000
it's like working back. work using t justification so you wont be lost in computing for the right bad debt expense for the year.
cos if you will enjoy an entry of
debit bad debts expense of 1000
credit allowance for bad debts 1000
and you will own a write off entry of
debit allowance for 800
credit accounts receivable 800
your ending harmonize will be (1000-800) 200
2. D. 900
3. for you last question to go and get the net realizable value of A/R to be shown on symmetry sheet you will have to deduct the end balance of allowance to the A/R ending tale...
so if there's 100,000 outstanding balance of accounts receivable you're net realizable attraction will be 99,800 (100,000-200)
i hope this helps.
All three answers are "B." Good luck! both D i believe
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A - $0
B - $600
C - $800
D - $1,000
2 – After aging the accounts receivable, it is estimated that $800 will not be collected and the allowance description has a debit balance in the past adjustments of $100. The adjusting entry for estimating uncollectible tale expense should be in the amount of ________.
A - $100
B - $700
C - $800
D - $900
Thank you very MUCH!
Answers: 1. if the 200 symmetry of allow. was the result from aging, it is the ending be a foil for that would be reflected in the harmonize sheet. so the answer will be D. 1000
it's like working back. work using t justification so you wont be lost in computing for the right bad debt expense for the year.
cos if you will enjoy an entry of
debit bad debts expense of 1000
credit allowance for bad debts 1000
and you will own a write off entry of
debit allowance for 800
credit accounts receivable 800
your ending harmonize will be (1000-800) 200
2. D. 900
3. for you last question to go and get the net realizable value of A/R to be shown on symmetry sheet you will have to deduct the end balance of allowance to the A/R ending tale...
so if there's 100,000 outstanding balance of accounts receivable you're net realizable attraction will be 99,800 (100,000-200)
i hope this helps.
All three answers are "B." Good luck! both D i believe