Business, 24.03.2020 16:58 kimjooin02

Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are given below.

Age Interval Balance Estimated Uncollectible Accounts Percent Estimated Uncollectible Accounts Amount
Not past due $4S8,000 1/2 % $2,290
1-30 days past due 50,400 2 1,008
31-60 days past due 22,900 6 1,374
61-90 days past due 16,500 18 2,970
91-180 days past due 11,900 41 4,879
Over 180 days past due 8,700 65 5,655
Total $568,400 $18,176

Assume that the allowance for doubtful accounts for Oufaw Blike Co. had a debit balance of $3,270 as of December 31.

Required:
Journalize the adjusting entry for uncoillectible accounts as of December 31.

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 21:40

Tandard product costs deerfield company manufactures product m in its factory. production of m requires 2 pounds of material p, costing $4 per pound and 0.5 hour of direct labor costing, $10 per hour. the variable overhead rate is $8 per direct labor hour, and the fixed overhead rate is $12 per direct labor hour. what is the standard product cost for product m? direct material answer direct labor answer variable overhead answer fixed overhead answer standard product cost per unit answer

Answers: 1

Answer

Business, 22.06.2019 00:50

Consider each of the following cases: case accounting break-even unit price unit variable cost fixed costs depreciation 1 127,400 $ 38 $ 25 $ 711,000 ? 2 124,000 ? 41 2,500,000 $ 900,000 3 5,753 117 ? 171,000 100,000 required: (a) find the depreciation for case 1. (do not round your intermediate calculations.) (b) find the unit price for case 2. (do not round your intermediate calculations.) (c) find the unit variable cost for case 3. (do not round your intermediate calculations.)

Answers: 2

Answer

Business, 22.06.2019 12:40

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices

Answers: 2

Answer

Business, 22.06.2019 14:30

You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should

Answers: 1

Answer

You know the right answer?

Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivabl...

Questions