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Ryan Company had the following information in 2014. Accounts receivable 12/31/14.

Ryan Company had the following information in

2014.

Accounts receivable 12/31/14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$10000

Allowance for uncollectible account 12/31/14 (before adjustment). . . . . . .

950

Credit sales during 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

39,000

Cash sales during 2014. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

17,000

Collections from customers on account during 2014. . . . . . . . . . . . . . . . . .

40,000

If uncollectible accounts are determined by the​ aging-of-receivables method to be $1,260​,

the uncollectible account expense for 2014

would be $310.

The balance of the Allowance account after the adjusting entry would be ?

Top Answer

Allowance for uncollectible account 12/31/14 (before adjustment) = $950 Add:... View the full answer

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