 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Bad Debt Expense
I need help with the following question I don't know what to do...
Delgado Corporation had a 1/1/07 balance in the Allowance for Doubtful Accounts of $20,000. During 2007, it wrote off $14,400 of accounts and collected $4,200 on accounts previously written off. The balance in Accounts Receivable was $400,000 at 1/1 and $480,000 at 12/31. At 12/31/07, Delgado estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2007? |
||||
Check out some similar questions!
Can someone help with the following accounting exercise? The following info was listed in company X balance sheet as of 2005 Aacounts Rec for 2004 150,000 Aacounts Rec for 2005 250,000 Allowance for bad debt in 2004 was 8,200 Allowance for bad debt in 2005 was 12,000
Hi, my question is regarding my old account with Capital One Services. Under Pay Status: It is listed as <Charged Off as Bad Debt>, then under Remark: >Settled - less than full balance< I had no choice at that time, but to accept their offer and pay it off as stated above. Date Opened: 4/1999,...
If my grandfather dies and still owes an excessive amount or credit card debt and loans can his house be seized because of this debt?
If allowance for doubtful accounts has a credit balance of $2100 in the trial balance, how do I journalize the adjusting entry at December 31, assuming bad debts are expected to be 1% of net sales. Sales are $840,000. And 10% of accounts receivables? A/R is $110,000. Thanks
Sales (100% on credit) $1,560,000 Sales Returns 60,000 Accounts Receivable (December 31, 2001) 250,000 Allowance for Doubtful Accounts (before adjustment at December 31, 2001)...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
