- Teal Mountain Inc S Unadjusted Trial Balance At December 31 2020 Included The Following Accounts Allowance For Doubt 1 (62.9 KiB) Viewed 9 times
An analysis and aging of Indigo Corporation's accounts receivable at December 31, 2020, disclosed the following: Amounts estimated to be uncollectible Accounts receivable Allowance for doubtful accounts (per books) Net realizable value $153,000 tA 1,760,000 What is the net realizable value of Indigo Corporation's receivables at December 31, 2020? 134,000
Sandhill Co. provides for doubtful accounts based on 4.5% of credit sales. The following data are available for 2020: Credit sales during 2020 Allowance for doubtful accounts 1/1/20 Collection of accounts written off in prior years (customer credit was re-established) Customer accounts written off as uncollectible during 2020 $3,070,000 Allowance for doubtful accounts 12/31/20 $ 37,900 16,500 35,100 What is the balance in Allowance for Doubtful Accounts at December 31, 2020?
At the end of its first year of operations, on December 31, 2020, Skysong Inc. reported the following information: Accounts receivable, net of allowance for doubtful accounts Customer accounts written off as uncollectible during 2020 Bad debt expense for 2020 $980,000 22,500 90,000 What is the balance in accounts receivable at December 31, 2020, before subtracting the allowance for doubtful accounts? Accounts receivable, before deducting allowance for doubtful accounts
The following accounts were taken from Metlock Inc.'s unadjusted trial balance at December 31, 2020: Sales revenue (all on credit) Sales discounts Allowance for doubtful accounts Accounts receivable Debit Bad debt expense $21,000 34,600 620,000 Credit $980,000 If doubtful accounts are 8% of accounts receivable, what is the bad debt expense amount to be reported for 2020?