Question: Just solve E 1 and explain how you got it Required information Skip to question [ The following information applies to the questions displayed below.

Just solve E1 and explain how you got it
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The following is a portion of the current asset section of the balance sheets of HiROE Company, at December 31,2023 and 2022:
12/31/2312/31/22 Accounts receivable, less allowance for uncollectible accounts of $7,900 and $4,200, respectively $ 157,700 $ 104,000
Required:
If bad debts expense for 2023 totaled $10,400, what was the amount of accounts receivable written off during the year? (Hint: Use the T-account model of the Allowance account, plug in the three amounts that you know, and solve for the unknown.)
The December 31,2023, Allowance account balance includes $3,000 for a past due account that is not likely to be collected. This account has not been written off.
If it had been written off, will there be any effect of the write off on the working capital at December 31,2023? If it had been written off, will there be any effect of the write off on net income and ROI for the year ended December 31,2023?
The level of HiROE's sales in 2023 is probably higher as compared to 2022.
Calculate the ratio of the Allowance for Uncollectible Accounts balance to the Accounts Receivable balance at December 31,2023 and 2022.
Required information
[The following information applies to the questions displayed below.]
The following is a portion of the current asset section of the balance sheets of HiROE Company, at December 31,2023 and 2022:
Required:
b. If bad debts expense for 2023 totaled \(\$ 10,400\), what was the amount of accounts receivable written off during the year? (Hint. Use the T-account model of the Allowance account, plug in the three amounts that you know, and solve for the unknown.)
c. The December 31,2023, Allowance account balance includes \(\$ 3,000\) for a past due account that is not likely to be collected. This account has not been written off.
1. If it had been written off, will there be any effect of the write off on the working capital at December 31,2023?
2. If it had been written off, will there be any effect of the write off on net income and ROI for the year ended December 31,2023?
d. The level of HiROE's sales in 2023 is probably higher as compared to 2022.
e.1. Calculate the ratio of the Allowance for Uncollectible Accounts balance to the Accounts Receivable balance at December 31,2023 and 2022
Complete this question by entering your answers in the tabs below.
Req C1 to D
Calculate the ratio of the Allowance for Uncollectible Accounts balance to the Accounts Receivable balance at
December 31,2023 and 2022.
Note: Enter your answers as a percentage rounded to 1 decimal place (i.e.,3.2).
Just solve E 1 and explain how you got it

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