Adjustment entry for allowance for doubtful accounts at the

Assignment Help Financial Accounting

Reference no: EM13356132

Adjustment entry for Allowance for Doubtful accounts at the end of the year .

The Draber Company uses the allowance method based on the aging method to determine the estimated allowance for doubtful accounts. Below is presented an aging at the end of the current period with the percent uncollectible experience rates:

		Number of Days Outstanding
	Total	0-30 days	31-60 days	61-90 days	91-120 days	Over 120 days
Accounts Receivable	$450,000	$220,000	$100,000	$45,000	$30,000	$55,000
%uncollectible rate		2%	4%	6%	8%	10%

If the allowance for doubtful accounts before any necessary adjustment is at $10,000, what adjustment will have to be made at the end of the period? You may use a journal entry to help answer the question, but this is not required.

Reference no: EM13356132

Questions Cloud

Choosing the method of depreciation with 30 tax rate : choosing the method of depreciation with 30 tax rate straight line or double declining depreciation.the capital company

Calculation of accumulated depreciationthe capital company : calculation of accumulated depreciation.the capital company purchased 3 machines in the past year. information

Calculation of estimated allowance for doubtful accounts : calculation of estimated allowance for doubtful accounts with a change in sales.the draber company uses the allowance

Findingnbsp the write off of the specific receivablethe : findingnbsp the write off of the specific receivable.the draber company uses the allowance method based on the aging

Adjustment entry for allowance for doubtful accounts at the : adjustment entry for allowance for doubtful accounts at the end of the year .the draber company uses the allowance

Calculation of estimated allowance for doubtful accountsthe : calculation of estimated allowance for doubtful accounts.the draber company uses the allowance method based on the

Calculation of lease amount for the given datapayment that : calculation of lease amount for the given data.payment that wrenn will require from contech? assume a marginal tax rate

Finding lessors amount to be amortizedcontech lessee wishes : finding lessors amount to be amortized.contech lessee wishes to lease a printing press valued at 60000 from wrenn

Finding economic ordering quantitymedarex is considering : finding economic ordering quantity.medarex is considering the lease of an electronic welder costing 210000 from key

User Account

All Pages