Allowance_for_doubtful_accounts

Allowance_for_doubtful_accounts - Est. Bad debts 17035 165...

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Accounts Receivable Aging Schedule Acme Industries, Inc. as of 12/31/02 # days past due Customer Total Current 1-30 31-60 61-90 over 90 Smith Inc. 3000 1500 1000 500 Jones Inc. 5000 2000 1000 2000 Ford Inc. 10000 5000 2500 2500 G. M. Inc. 100000 10000 50000 40000 Xyz Inc. 30000 30000 Total 148000 16500 53500 42500 31000 4500 1% 2% 10% 30% 50%
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Unformatted text preview: Est. Bad debts 17035 165 1070 4250 9300 2250 If preadjusted balance in the allowance account is $15,000, then a $2,035 adjustment is needed. Allowance for Bad Debts 15,000 2,035 17,035 Bad Debt Expense 2,035 Allowance for Bad debts 2,035 Est. uncollectible %...
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This note was uploaded on 02/15/2012 for the course GERM 200 taught by Professor Kuhmar during the Spring '10 term at SUNY Albany.

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