Maurice Tutor

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Category > Accounting Posted 12 Aug 2017 My Price 14.00

allowance for doubtful accounts

1. A company starts with accounts receivable of $64,899 and an allowance for doubtful accounts of $6,969. During the year, they have $706,436 of credit sales, $160,736 of cash sales and $5,232 of accounts written off. The company estimates that 3% of credit sales will be uncollectible. What is the AJE required at year end? (Do NOT enter any commas, dollar signs, etc. Just enter the number ROUNDED TO THE NEAREST DOLLAR)

 

2. A company starts with accounts receivable of $59,006 and an allowance for doubtful accounts of $6,520. During the year, they have $648,489 of credit sales, $201,335 of cash sales and $7,801 of accounts written off. The company estimates that $5,197 of accounts receivable will be uncollectible. What is the ending balance of the allowance account after all AJEs? (Do NOT enter any commas, dollar signs, etc. Just enter the number)

 

3. A company starts with accounts receivable of $66,097 and an allowance for doubtful accounts of $7,125. During the year, they have $629,878 of credit sales, $178,473 of cash sales and $5,125 of accounts written off. The company estimates that $6,911 of accounts receivable will be uncollectible. What is the AJE required at year end? (Do NOT enter any commas, dollar signs, etc. Just enter the number)

 

4. A company starts with accounts receivable of $63,598 and an allowance for doubtful accounts of $6,749. During the year, they have $746,607 of credit sales, $168,358 of cash sales and $7,634 of accounts written off. The company estimates that 3% of credit sales will be uncollectible. What is the ending balance of the allowance account after all AJEs? (Do NOT enter any commas, dollar signs, etc. Just enter the number ROUNDED TO THE NEAREST DOLLAR)

 

5. A company started with A/R of $57,980 and an allowance for uncollectible accounts of $171,024. During the year, they had credit sales of $898,555, cash sales of $3,823 and wrote-off accounts receivable of $4,174. At year end, the company had A/R of $61,335. What were cash collections from customers on account?

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 01:08 PM My Price 14.00

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