COMMERCE 1BA3 Study Guide - Accounts Receivable, Bank Statement, Storage Technology Corporation
Document Summary
Using the aging-of-accounts-receivable method, you estimate that total uncollectible accounts are. The allowance for uncollectible accounts prior to adjustment has a credit balance of ,100. The allowance for uncollectible accounts prior to adjustment has a debit balance of ,100. ,900: for each of the following independent situations, compute net accounts receivable: An aging schedule prepared on december 31 reveals ,100 of uncollectible accounts. An aging schedule prepared on december 31 reveals ,300 of uncollectible accounts. The allowance for uncollectible accounts has a credit balance prior to adjustment of . Net credit sales for the year are ,000 and 3% is estimated to be uncollectible. The allowance for uncollectible accounts has a debit balance prior to adjustment of . Net credit sales for the year are ,000 and. ,000 - ,100 = ,900: friar company uses the allowance method to account for uncollectible accounts. On january 1, the allowance for doubtful accounts had a credit balance of ,000.