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At the end of the current year (before adjusting entries), Captain Corporation had a balance of $94,000 in Accounts Rece
Posted: Sun Jun 05, 2022 9:24 pm
by answerhappygod
- At The End Of The Current Year Before Adjusting Entries Captain Corporation Had A Balance Of 94 000 In Accounts Rece 1 (73.29 KiB) Viewed 48 times
At the end of the current year (before adjusting entries), Captain Corporation had a balance of $94,000 in Accounts Receivable and a credit balance of $5,000 in Allowance for Uncollectible Accounts. Service revenue (all on credit) for the year totaled $470,000. Requirement 1. Assume that Captain Corporation uses the aging-of-receivables method. Captain Corporation estimates that its Allowance for Uncollectible Accounts should have a credit balance of $13,000. Calculate the amount of its Uncollectible-Account Expense. What is the ending balance of the Allowance for Uncollectible Accounts under this scenario? Captain Corporation has $ of uncollectible-account expense using the aging-of- receivables method. The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario.