Compute the total estimated uncollectible accounts

Reference no: EM131520223

Question: Williamson Distributors separates its accounts receivable into three age groups for purposes of estimating the percentage of uncollectible accounts.

1. Accounts not yet due = $30,000; estimated uncollectible = 5%.

2. Accounts 1-30 days past due = $10,000; estimated uncollectible = 20%.

3. Accounts more than 30 days past due = $4,000; estimated uncollectible = 30%.

Compute the total estimated uncollectible accounts.

Reference no: EM131520223

Questions Cloud

Find allowance method to account for uncollectible accounts : Brady is hired in 2012 to be the accountant for Anderson Manufacturing, a private company. At the end of 2012, the balance of Accounts Receivable is $24,000.

How does diplomacy interact with other aspects of politics : How does diplomacy interact with other aspects of politics in generating policy positions and strategic outcomes (i.e. public opinion, economics, etc.)?

Calculate the expected price : Calculate the expected price, five years from now. That is, calculate P5. Calculate the price today.

How banks and other institutions argue about meaning : Examine how banks and other institutions (your college, utility company) argue about meaning. Select one institution and study its arguments

Compute the total estimated uncollectible accounts : Williamson Distributors separates its accounts receivable into three age groups for purposes of estimating the percentage of uncollectible accounts.

Calculate the price of the bond : Assume interest rates for bonds today is 5% for an AAA rated bond. Calculate the price of the bond you have selected relative to the 5%.

Discuss biblical concept of forgiveness in relationships : Discuss the biblical concept of "forgiveness" in relationships. Support the concept from Scripture and any of the articles from your Helmick text.

Record the write-off to uncollectible accounts : At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end of the year, actual bad debts total $15,000

Write an essay about a particular crisis : Write an essay about a particular crisis and an argument about possible action - Include at least two outside sources.

User Account

All Pages