YM Company determines the allowance for doubtful accounts by aging its accounts receivable. At the end of

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YM Company determines the allowance for doubtful accounts by aging its accounts receivable. At the end of 2012, the balance in the allowance account was $50,000. During 2013, YM wrote off $5,000 and collected a $3,000 receivable that had been previously written off as uncollectible. At the end of 2013, the aging schedule indicated that the balance of the allowance for doubtful accounts should be $64,000.
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How much is the bad debts expense for 2013? Aging Schedule
Aging schedule is an accounting table that shows a company’s account receivables. It is an summarized presentation of accounts receivable into a separate time brackets that the rank received based upon the days due or the days past due. Generally...
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Intermediate Accounting

ISBN: 978-0132612111

Volume 1, 1st Edition

Authors: Kin Lo, George Fisher

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