Using the aging of accounts receivable method to estimate uncollectibles, Ute Mountain Company estimates that $8,000 of

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Using the aging of accounts receivable method to estimate uncollectibles, Ute Mountain Company estimates that $8,000 of its accounts receivable will be uncollectible. Prior to adjustment, the Allowance for Uncollectible Accounts has a credit balance of $2,000. What is the amount of uncollectible account expense to be reported on the income statement?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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