Bad debts expense, If the aging approach is used to

Bad debts expense

Assignment Help Financial Accounting

Reference no: EM13917023

Atlantis Tropicals

The following information was taken from the company's records at the end of 2012.

Credit Sales	$1,000,000
Sales returns and allowances	80,000
Accounts Receivable--December 31, 2012	255,000
Allowance for Doubtful Accounts--December 31, 2012
(Before adjustment for bad debts)	23,000
Estimated uncollected accounts
(per aging schedule at December 31, 2012)	35,000

Refer to Atlantis Tropical. If the aging approach is used to estimate bad debts, how much bad debts expense will the company report for 2012?

Reference no: EM13917023

Questions Cloud

Describe the market forces and the non-market forces : Describe the market forces and the non-market forces that have lead to an increase in inequality over the past few decades and what are payday loans? Why do people use payday loans? What impact do payday loans have on poverty? Discuss.

Legal and ethical considerations in marketing-product safety : You are a new associate at the law firm of Dewey, Chetum, and Howe. John, a former researcher at PharmaCARE, comes to your office. He has concerns about PharmaCARE's use of AD23, one of the company's top-selling diabetes drugs.

Discuss factors burger king management may have considered : Discuss the factors Burger King management may have considered before choosing a communication channel to deliver this important news.

Find the p-value of the test statistic : Assume the population is normally distributed. A level of significance of 0.05 will be used. Find the P-value of the test statistic

Bad debts expense : If the aging approach is used to estimate bad debts, how much bad debts expense will the company report for 2012?

Why more force is required to start the car f : Why more force is required to start the car from initial position in comparison to when it is running ?

Why push buttons are made large : Why push buttons are made larger and have the casing surrounding them ?

Assess any potential malicious attacks and threats : The CIO has seen reports of malicious activity being on the rise and has become extremely concerned with the protection of the intellectual property and highly sensitive data maintained by your organization.

What is the margin of error : A quality control inspector wants to determine the percentage of cracked eggs (not broken, just cracked) sold in a store. The inspector checked 3 cartoons (36 eggs) of eggs and found two eggs that were cracked. Determine a 90% confidence interv..

User Account

All Pages