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-   -   What do you think the answers should be: (https://www.askmehelpdesk.com/showthread.php?t=216287)

  • May 15, 2008, 12:28 PM
    tlong
    What do you think the answers should be:
    Unadjusted Trial Balance
    Sales $600,000
    Ending Accounts Receivable 180,000
    Ending Allowance for Uncollectibles 6,200 CR
    Bad Debt Expense 5,000
    Estimated Uncollectibles 4%

    If they use the sales revenue approach for estimating bad debt expense, after the proper adjustment to the accounts are recorded, the Allowance for Uncollectibles account should show a balance of ________________.
    a)6,200 b)7,200 c)11,200 d)25,200


    If they use the gross accounts receivable approach for estimating bad debt expense, after the proper adjustment to the accounts is recorded, the Allowance for Uncollectibles account should show a balance of ___________.
    a)6,200 b)7,200 c)11,200 d)25,200

    Thanks.
    tlong:)
  • May 15, 2008, 12:35 PM
    turtlegirl16
    1. 11,200
    2. 7,200
    I think but I am no good at math:/
  • May 15, 2008, 12:42 PM
    tlong
    Great, those were my answers too but I was confused because you have to add the balance in the allowance account but then it was not adding up to any amount shown in the answers so hopefully we got the right answers. Thank you so much.

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