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    lopezap1's Avatar
    lopezap1 Posts: 13, Reputation: 1
    New Member
    		  
    #1

    Jul 17, 2012, 05:17 PM
    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 over 90 days past due are written off. The credit balance in Allowance for Uncollectible Accounts was $520. The uncollectible-account expense for the year is:
    A. $ 600.
    B) $2,260.
    C) $2,200.
    D) $3,240.

    I have not a clue how to come to the total on this one - any help?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jul 17, 2012, 05:31 PM
    Quote Originally Posted by lopezap1 View Post
    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 over 90 days past due are written off. The credit balance in Allowance for Uncollectible Accounts was $520. The uncollectible-account expense for the year is:
    A. $ 600.
    B) $2,260.
    C) $2,200.
    D) $3,240.

    I have not a clue how to come to the total on this one - any help?
    Ok clueless time for some work

    Multipy the % for each category by the balance, add the results and compare this with the alternatives and the available balance. A course of action will become apparent to you

    This is really simple stuff your next question should be referred to the homework help Board alternatively you could open a text book
    lopezap1's Avatar
    lopezap1 Posts: 13, Reputation: 1
    New Member
    		  
    #3

    Jul 17, 2012, 06:40 PM
    Thank you - so 2200 C
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