Solution-What amount of uncollectible accounts expense

What amount of uncollectible accounts expense

Reference no: EM13536062

The following information comes from the accounts of Jersey Company.

Account Title	Beginning Balance	Ending Balance
Accounts receivable	$30,000	$34,000
Allowance for doubtful accounts	1,800	1,700
Notes receivable	40,000	40,000
Interest receivable	1,200	3,600

Required

a. There were $170,000 in sales on account during the accounting period. Write-offs of uncollectible accounts were $1,400. What was the amount of cash collected from accounts receivable? What amount of uncollectible accounts expense was reported on the income statement? What was the net realizable value of receivables at the end of the accounting period?

b. The note has a 6 percent interest rate and 24 months to maturity. What amount of interest revenue was recognized during the period? How much cash was collected for interest?

Reference no: EM13536062

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What amount of uncollectible accounts expense

Reference no: EM13536062

Reference no: EM13536062

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