8.5.docx - Exercise 8-5 Godfreid Company has accounts...

This preview shows page 1 out of 1 page.

Exercise 8-5Godfreid Company has accounts receivable of $95,400 at March 31, 2017. Credit terms are 2/10, n/30.At March 31, 2017, there is a $2,100 credit balance in Allowance for Doubtful Accounts prior toadjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts.The company’s estimates of bad debts are as shown below.Balance, March31EstimatedPercentageUncollectibleAge ofAccounts20172016Current$65,000$75,0002%1–30 dayspast due
End of preview. Want to read the entire page?

Upload your study docs or become a

Course Hero member to access this document

Term
Spring
Professor
N/A
Tags
Managerial Accounting, Debt, 2 100, 65 000, 75 000 1, Godfreid Company

Newly Uploaded Documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture