Determine the total estimated uncollectibles

Assignment Help Accounting Basics

Reference no: EM131828686

Question: Godfreid Company has accounts receivable of $95,400 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $2,100 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 bad debts are as shown below.

Instructions: (a) Determine the total estimated uncollectibles

(b) Prepare the adjusting entry at March 31, 2017, to record bad debt expense.

Reference no: EM131828686

Questions Cloud

Journalize the payment of the payroll : On December 31, 2010, $390 of salaries has been accrued. Journalize the payment of the payroll

Describe the function of each layer of the TCP-IP model : Describe the function of each layer of the TCP/IP model. Compare 802.11 and WiMAX wireless networks in terms of transmission distances and frequencies.

Television advertisements of three different products : This week examine the television advertisements of three different products or services and report on the features, advantages, and benefits

Components of the sell sequence using brackets : Now create a SELL Sequence for each FAB (see page 114). Label each of the components of the SELL Sequence using brackets as shown on pages 119-120.

Determine the total estimated uncollectibles : Godfreid Company has accounts receivable of $95,400 at March 31, 2017. Credit terms are 2/10, n/30. At March 31, 2017, there is a $2,100 credit balance.

What is the latest status of the fire wire standard : What is the latest status of the Fire Wire standard? Is it going to succumb to the USB standard? Explain your response.

Understand your attitude toward selling : You have learned much about selling in this course. Let's find out how much, and at the same time better understand your attitude toward selling.

What signals in addition to T C R and I are used : One older interface standard is called X.21. How does it compare to USB? What signals in addition to T, C, R, and I are used in the X.21 interface standard?

When a customer enters their store : Given this information about why people buy ceiling fans, what should salespeople be instructed to do when a customer enters their store?

User Account

All Pages