On December 31, 2014, Vale Company had an unadjusted credit balance of $1,000 in its Allowance for uncollectible accounts An analysis of Vales trade accounts receivable at that date revealed the following Required What amount should Vale report as Allowance for uncollectible accounts in its Decembe...

The estimated uncollectible accounts at Decembe ...

On December 31, 2014, Vale Company had an unadjusted credit balance of $1,000 in its Allowance for

Question:

On December 31, 2014, Vale Company had an unadjusted credit balance of $1,000 in its Allowance for uncollectible accounts. An analysis of Vale€™s trade at that date revealed the following:

Required:
What amount should Vale report as Allowance for uncollectible accounts in its December 31, 2014, balancesheet?

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...