Wildhorse Salon Supply Company has accounts receivable of $96,900 at March 31, 2025. An analysis of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Wildhorse Salon Supply Company has accounts receivable of $96,900 at March 31, 2025. An analysis of the accounts shows these amounts: Month of Sale March February December and January October and November Age of Accounts Current Balance, March 31 1-30 days past due 31-90 days past due Over 90 days past due 2025 $63,000 15,000 11,000 7,900 $96,900 Credit terms are 2/10, n/30. At March 31, 2025, there is a $3,600 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. 2024 7 $75,800 8,000 2,900 1,200 Estimated Percentage Uncollectible 25 $87,900 2% 50 Determine the total estimated uncollectible accounts receivable at March 31. 2025. Wildhorse Salon Supply Company has accounts receivable of $96,900 at March 31, 2025. An analysis of the accounts shows these amounts: Month of Sale March February December and January October and November Age of Accounts Current Balance, March 31 1-30 days past due 31-90 days past due Over 90 days past due 2025 $63,000 15,000 11,000 7,900 $96,900 Credit terms are 2/10, n/30. At March 31, 2025, there is a $3,600 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. 2024 7 $75,800 8,000 2,900 1,200 Estimated Percentage Uncollectible 25 $87,900 2% 50 Determine the total estimated uncollectible accounts receivable at March 31. 2025.
Expert Answer:
Answer rating: 100% (QA)
To determine the total estimated uncollectible accounts receivable at March 31 2025 we need to calcu... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Proehl Company has accounts receivable of $95,100 at March 31, 2010. An analysis of the accounts shows these amounts. Credit terms are 2/10, n/30. At March 31, 2010, there is a $2,400 credit balance...
-
Godfreid Company has accounts receivable of $95,400 at March 31, 2025. Credit terms are 2/10, n/30. At March 31, 2025, there is a $2,100 credit balance in Allowance for Doubtful Accounts prior to...
-
In an attempt to include all relevant information for decision-making purposes, Merimore Company estimates bad debts using the aging method. However, for external reporting purposes, the company...
-
Discuss the differences between @classmethod , @staticmethod , and instance methods in Python.
-
Determine the x, y, z components of internal loading at point C in the pipe assembly. Neglect the weight of the pipe. The load is F 1 = {-24i ? 10k} lb, F 2 = {-81i} lb, and M = {-30k} lb ? ft. 3 ft...
-
Consider the high school SAT scores data from Exercise 36. In Exercise 36 a) Find a 90% confidence interval for the slope of the true line describing the association between Math and Verbal scores....
-
How are some birds able to stay in the air without flapping their wings?
-
Subsidiary Ledgers. The printout of the Estimated Revenues and Revenues subsidiary ledger accounts for the General Fund of the City of Salem as of February 28, 2011, appeared as follows: Required...
-
Let c, d E TR". Consider the LP. (P) max St. dx = 100 Describe the conditions on c under which (P) would have an optimal solution, and prove your claim-
-
In a survey, adults were asked to answer yes or no to the question Do you regularly watch the evening TV news? Some of the results from the survey are detailed in the Venn diagram opposite. One adult...
-
First step - Select your FAVOURITE retailer with a physical store who sells a physical product - otherwise it will be difficult to complete this project. Second step - Your assignment should include...
-
Prior to the merger, Firm Dune has RM1,140 in total earnings with 760 shares outstanding at a market price per share of RM40. Firm Matrix has RM680 in total earnings with 175 shares outstanding at...
-
3. Supposethe TLC Networkagreed to pay Kendrick Lamar acontract totaling$350 million over 10 years. If this total salary were to be covered by pay per view episode subscriptions only, how many more...
-
Describe the current state of the U.S. economy using any six economic indicators. State the latest reading (number) for each indicator and explain what it means.
-
Let's take moment and look at medical needs since COVID-19 has changed what we think of as normal life. Normally when we get sick, we take for granted that we can go to the doctor and all supplies...
-
Explain it in 150 words Hard for you to imagine a world without VIDEO but it is not that long ago that this existed. They say that "video killed the radio star". Do you think that radio has any...
-
On 1 January 2021, YoYo Limited signed a non-cancellable lease agreement to lease a photocopier from Marvel Limited. The following information related to the agreement is: (1) The lease term is 5...
-
r = 0.18 Find the coefficients of determination and non-determination and explain the meaning of each.
-
Capaldo Music Center has five CD players on hand at the balance sheet date that cost $400 each. The current replacement cost is $350 per unit. Under the lower-of-cost-or-market basis of accounting...
-
On January 1, 2010, Jagard Company issued $4,000,000 face value, 10%, 15-year bonds at $3,455,131. This price resulted in an effective-interest rate of 12% on the bonds. Jagard uses the...
-
McFarland Company obtains $20,000 in cash by signing a 9%, 6-month, $20,000 note payable to First Bank on July 1. McFarlands fiscal year ends on September 30. What information should be reported for...
-
If \(\sigma_{x x}=90 \mathrm{MPa}, \sigma_{y y}=-45 \mathrm{MPa}, \tau_{x y}=30 \mathrm{MPa}\), and \(\sigma_{z z}=\tau_{x z}=\tau_{y z}=0\), compute the surface traction...
-
Calculate the principal direction corresponding to \(\sigma_{3}=-2\) in example 5.4. Data From Example 5.4: For the stress matrix given below, determine the principal stresses. 3 1 11 [0]=102 1 2 0
-
At a point \(P\) in a body, Cartesian stress components are given by \(\sigma_{x x}=80 \mathrm{MPa}, \sigma_{y y}=-40\) \(\mathrm{MPa}, \sigma_{z z}=-40 \mathrm{MPa}\), and \(\tau_{x y}=\tau_{y...
Study smarter with the SolutionInn App