Business, 28.06.2020 03:01 mallyosburn

Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts. Accounts not yet due = $104,000; estimated uncollectible = 15%. Accounts 1–45 days past due = $14,400; estimated uncollectible = 20%. Accounts more than 45 days past due = $5,700; estimated uncollectible = 25%. Before recording any adjustments, Dhaliwal has a debit balance of $25,700 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Dhaliwal’s allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts?

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 21:00, elenasoaita

Describe what fixed costs and marginal costs mean to a company.

Answers: 1

continue

Business, 22.06.2019 21:10, winterblanco

The blumer company entered into the following transactions during 2012: 1. the company was started with $22,000 of common stock issued to investors for cash. 2. on july 1, the company purchased land that cost $15,500 cash. 3. there were $700 of supplies purchased on account. 4. sales on account amounted to $9,500. 5. cash collections of receivables were $5,500. 6. on october 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on october 1. 7. supplies on hand as of december 31, 2010 amounted to $225. the amount of cash flow from investing activities would be:

Answers: 2

continue

Business, 23.06.2019 01:30, paigehixson342

True or false: it is generally better to concentrate your exercise time on the weekends only for maximum aerobic benefit.

Answers: 1

continue

Business, 23.06.2019 01:30, sabrinarasull1pe6s61

Akika corporation started as a small firm and has grown substantially in the past decade. its interests span from electronics to real estate and aviation. akika's board of directors have now decided to create independent business units for and categorize the actions performed under each domain. each business unit will have distinct roles and responsibilities. which of the 14 principles of fayol does this exemplify?

Answers: 3

continue

You know the right answer?

Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimatin...