Aging Approach., Accounting Basics

At the end of 2011 Samuda reported a balance in Account receivable of $620,000 and estimated that $12,400 of this account would likely be uncollectible. The allowance for doubtful accounts has a $1,500 debit balance at year end;
Case B
1.What amount of bad debt expense should be recorded for 2011?
2.What amount will be reported on the 2011 balance sheet for accounts receivables?
Posted Date: 9/7/2012 10:28:55 PM | Location : United States







Related Discussions:- Aging Approach., Assignment Help, Ask Question on Aging Approach., Get Answer, Expert's Help, Aging Approach. Discussions

Write discussion on Aging Approach.
Your posts are moderated
Related Questions
Ratio Analysis : A 'Ratio' is  clear as an  arithmetical/quantitative/ numerical relationship between two numbers. Ratio analysis is a extremely significant and age old method of f

A bauxite mine was acquired at a cost of $1,500,000 and estimated to contain 6,000,000 tons of ore. During the year, 95,000 tons were mined and sold. Prepare the journal entry fo

FINANCIAL STATEMENT ANALYSIS Following the preparation of the Financial Statements, they are examined by the business for the reason of analyzing the presentation of the compan

Concept of Conservatism: The concept of conservatism, also termed as the concept of prudence, is frequently stated as "anticipate no profit, give for all possible losses". It


assignments

Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and


on which shares pre acquisiton dividend received

Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations.  This process is desi