Davis Company performs an aging analysis to determine the amount of its bad debts expense to...
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Davis Company performs an aging analysis to determine the amount of its bad debts expense to record at the end of each year. At the end of the current year the company's aging schedule appeared as follows: Current receivables Past-due receivables 1-30 days 31-60 days 61-90 days 91+ days Accounts Receivable $11,000 1,650 3,050 980 630 Fraction estimated to be uncollectible 1% 2% 6% 25% 40% Davis's Allowance for Doubtful Accounts had a credit balance of $260 before adjustment. What is the amount of Davis's bad debt expense for the year? Davis Company performs an aging analysis to determine the amount of its bad debts expense to record at the end of each year. At the end of the current year the company's aging schedule appeared as follows: Current receivables Past-due receivables 1-30 days 31-60 days 61-90 days 91+ days Accounts Receivable $11,000 1,650 3,050 980 630 Fraction estimated to be uncollectible 1% 2% 6% 25% 40% Davis's Allowance for Doubtful Accounts had a credit balance of $260 before adjustment. What is the amount of Davis's bad debt expense for the year?
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Answer rating: 100% (QA)
current rec 130 days 3160 days 6190 days 91 days Total ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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