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Type: Posts; User: lopezap1

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  1. Answers
    0
    Views
    432

    Under the aging of accts rec'

    Aging of accts receivable method, the balance in

    Allowance for uncollectible accounts prior to adjustment is ignored
    Or
    Accounts rec'able prior to adjustment must be considered


    I still...
  2. Question: Debit and credit

    by lopezap1
    Answers
    1
    Views
    5,868

    Debit and credit

    Bank lends money to customer on six month note. The entry to record the issuance of the note is:
    A - debit note rec'able and credit credit service rev
    B - debit service rev and credit note rec'able...
  3. Answers
    0
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    993

    Account Receivable

    The balance in Accounts Receivable was $650,000 at the beginning of the year and $350,000 at the end of
    The year. Sales for the year totaled $4,100,000. During the year, $400,000 in...
  4. Answers
    1
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    1,046

    Percent of sales method

    Bigg and Talle Corporation uses the percent-of-sales method to estimate uncollectibles. Net credit
    Sales for the current year amount to $5,000,000, and management estimates 2% will be...
  5. Answers
    1
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    984

    Accounts receivable

    An aging-of-accounts-receivable method indicates that amount of uncollectible accounts is $7,200.
    The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $2,000....
  6. Question: Receivables

    by lopezap1
    Answers
    1
    Views
    1,530

    Receivables

    Using the aging-of-receivables method to estimate uncollectibles, Avidity Corporation estimates that
    $3,550 of its accounts receivable will be uncollectible. Prior to adjustment, the...
  7. Answers
    2
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    824

    Thank you - so 2200 C

    Thank you - so 2200 C
  8. Answers
    2
    Views
    824

    Accounts Receivable and uncollectible

    A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the
    Following:
    1-30 days $40,000 1.5%
    31-60 days $10,000 8.0%
    61-90 days $6,000 22.0%

    Amounts...
  9. A debit balance in the Allowance for Uncollectible Accounts:

    A debit balance in the Allowance for Uncollectible Accounts:
    A) cannot occur.
    B) is the normal balance.
    C) occurs when the actual bad debt write-offs are less that what was estimated.
    D) occurs...
  10. I thought any answer that says to ignore - would...

    I thought any answer that says to ignore - would be wrong.
  11. Under the aging-of-accounts-receivable method, the balance in

    A) Allowance for Uncollectible Accounts prior to adjustment is ignored.
    B) Accounts Receivable prior to adjustment must be considered.
    C) Allowance for Uncollectible Accounts prior to adjustment...
  12. Answers
    3
    Views
    675

    CC) accounts receivable less allowance for...

    CC) accounts receivable less allowance for uncollectible accounts.
  13. Answers
    3
    Views
    675

    Net accounts receivable is calculated as

    Net accounts receivable is calculated as
    A) sales less sales returns and allowances.
    B) accounts receivable plus allowance for uncollectible accounts.
    C) accounts receivable less allowance for...
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