1. Swifty Company has a debit balance of $4,910 in its Allowance for Doubtful Accounts before adjustments are made at the end of the year. Based on the review and aging of her accounts receivable at the end of the year, Swifty estimates that $69,100 of her accounts receivable is uncollectible. The amount of bad debt expense to be reported for the year is:

Using the following information:

	31/12/17
accounts receivable	$516000
installment	(35800	)
Cash Realizable Value	$480200

2. During 2018 sales on account were $144,700 and collections on account were $98,800. Also during 2018, the company wrote off $4,100 in bad debts. An analysis of the accounts receivable outstanding at the end of the year indicated that uncollectible accounts should be estimated at $39,700.
Bad debt expense for 2018 is

3. Marigold Company provides bad debt expense at a rate of 3% of accounts receivable. The following data is available for 2018:

Provision for doubtful accounts, 1/1/18 (Cr.)	$ 12600
Accounts written off as uncollectible during 2018	8900
Final accounts receivable	1202000

The balance of the Provision for Bad Debtors as of December 31, 2018, must be

The maturity value of a $62,000, 9%, 60-day note receivable dated July 3 is

The interest on a 1-year note receivable of $11,500, 8%, is

The maturity value of a 3-month 8% note receivable of $74,000 is

4. Sunland Company had net credit sales for the year of $1,360,000 and cost of sales of $770,000. The accounts receivable balance at the beginning of the year was $210,000 and at the end of the year it was $110,000. What was the turnover in accounts receivable?

5. The financial statements of Coronado Manufacturing Company report net sales of $992,800 and accounts receivable of $76,000 and $60,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days?

Answer rating: 100% (QA)

Sure I can help you with those questions 1 Swifty Company The amount of bad debt expense to be reported for the year is 64190 Debit balance of 4910 in ... View the full answer