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Domino Company ages its accounts receivable to estimate uncollectible accounts expense Domino began Year 2 with balances
Posted: Thu May 19, 2022 11:52 am
by answerhappygod
- Domino Company Ages Its Accounts Receivable To Estimate Uncollectible Accounts Expense Domino Began Year 2 With Balances 1 (32.04 KiB) Viewed 53 times
Domino
Company ages its accounts receivable to estimate uncollectible accounts expense Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $47,850 and $3,800, respectively. During Year 2, the
company wrote off $2,820 in uncollectible accounts. In preparation for the
company's estimate of uncollectible accounts expense for Year 2. Domino prepared the following aging schedule Number of Days Past Due Current 0-30 31-60 61-90 Over 90 Total Receivables Amount $ 82,000 29,500 7,960 4,220 3,900 $ 127,580 % Likely to be Uncollectible 1% 5% 10% 25% 50% What amount will be reported as uncollectible accounts expense on the Year 2 income
statement? Multiple Choice