Essay
Bruner Company uses the percent of receivables method to estimate the amount of its uncollectible accounts expense. At the end of 2014, Bruner had a balance of $750 in its Allowance for Doubtful Accounts. The amount of Accounts Receivable at the end of the period was $80,000, and the company estimates that 4% will be uncollectible. What would be the amount of Uncollectible Accounts Expense for 2014?
Correct Answer:
Verified
$2,450
$80,000 x 0.04 = $3,200 = desired...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
$80,000 x 0.04 = $3,200 = desired...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q3: The adjusting entry to recognize uncollectible accounts
Q77: In an inflationary environment:<br>A) a company's net
Q78: Warnock Company had $400,000 in credit sales
Q79: The Repair Shop provided $618,000 of services
Q80: A company may choose to estimate its
Q83: Indicate how each event affects the
Q84: In an inflationary period, which inventory cost
Q85: The net realizable value of accounts receivable
Q86: The following information is available for K.M.R.
Q87: After the accounts are adjusted at the