Solution-Calculate the amount of accounts receivable

Calculate the amount of accounts receivable written off

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Reference no: EM13525249

XYZ Company had a $4,000 credit balance in its allowance for bad debts at January 1, 2002.

At December 31, 2002, XYZ Company prepared the following aging schedule:

Accounts Receivable % Uncollectible
not past due $120,000 2%
1-30 days past due 40,000 5%
31-60 days past due 30,000 8%
61-90 days past due 10,000 15%
over 90 days past due 2,000 50%

Based on the above information, XYZ Company reported bad debt expense of $8,200 for 2002.

Calculate the amount of accounts receivable written off as uncollectible by XYZ Company during 2002.

Reference no: EM13525249

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Calculate the amount of accounts receivable written off

Reference no: EM13525249

Reference no: EM13525249

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