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The general ledger account for Accounts Receivable shows a debit balance of $40,000.

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The general ledger account for Accounts Receivable shows a debit balance of $40,000. The Allowance for Uncollectible Accounts has a credit balance of $2,000. Net sales for the year were $250,000. In the past, 3 percent of net sales have proved uncollectible. An aging of accounts receivable results in an estimate of $9,000 of uncollectible accounts receivable.;Required;Calculate;1. Uncollectible Accounts Expense and;2. the ending balance of the Allowance for Uncollectible Accounts using;A. the percentage of net sales method and;B. the accounts receivable aging method.

 

Paper#79974 | Written in 18-Jul-2015

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