Solution-What amount of uncollectible accounts expense

What amount of uncollectible accounts expense

Assignment Help Cost Accounting

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

Questions Cloud

What is the torque of the earth on the sun : The sun is 150,000,000 km away. The mass of the sun is 2x1030 kg, the mass of the earth is 6x1024 kg. What is the torque of the earth on the sun

Find the change in electric potential energy : A uniform electric field with a magnitude of 5650 N/C points in the positive x direction. Find the change in electric potential energy when a +15.5-"mu"C charge is moved 4.50 cm in the positive y direction.

Explain how many moles of n2o5 will remain after 1.0 min : How many moles of N2O5 will remain after 1.0 min. How many minutes will it take for the quantity of N2O5 to drop to 0.005 mol.

Analyzing the philosophy and psychology of humor : Analyzing the philosophy and psychology of humor seen in an example of pop-culture comedy.

What amount of uncollectible accounts expense : What amount of uncollectible accounts expense was reported on the income statement and what was the net realizable value of receivables at the end of the accounting period?

What angle does the strap make with the horizontal : A woman at an airport is towing her 20.5 kg suitcase at constant speed by pulling on a strap at an angle of ? above the horizontal. What angle does the strap make with the horizontal

What is the potential difference across the source : A 20.0 , 12.0 , and 8.00 resistor are connected in parallel to an emf source. A current of 6.00 A is in the 12.0 resistor. Calculate the equivalent resistance of the circuit. What is the potential difference across the source? Answer in units of V

Explain the concentration of a solution : If a precision of 0.1% is required for the concentration of a solution that is 0.2M, how many significant figures must be reported

Find the power drawn from the electric outlet : An AC adapter for a telephone answering machine uses a transformer to reduce the line voltage of 120 V to a voltage of 5.00 V. What is the power drawn from the electric outlet, if the transformer is assumed to be ideal

User Account

All Pages

What amount of uncollectible accounts expense

Reference no: EM13536062

Reference no: EM13536062

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT