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