Accounts receivable approach to estimate the bad debts, Accounting Basics

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Accounts receivable approach to estimate the bad debts

Dutch Grove Use the data presented below for Dutch Grove Corp. for the year ended December 31, 2004 to answer the questions that follow.

Sales (100% on credit) $950,000
Net credit sales 929,000
Accounts Receivable (December 31, 2004) 114,000
Allowance for Doubtful Accounts (before adjustment at December 31,
2004; credit balance) 1,000

Estimated amount of uncollectible accounts based on an aging analysis 10,000

Refer to Dutch Grove data. If Dutch Grove uses an aging of accounts receivable approach to estimate its bad debts, what amount will be reported as bad debt expense for 2004?

A. $2,280

B. $8,000

C. $9,000

D. $10,000

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Accounting Basics: Accounts receivable approach to estimate the bad debts

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Accounting Basics: Accounts receivable approach to estimate the bad debts

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Recent Questions Asked Accounting Basics

Q : Find the net present value of the investment

Q : Determining the present value of the investment

Q : Events using the fair value method

Q : What is the interest expense on the bonds

Q : Accounts receivable approach to estimate the bad debts

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Accounting Basics: Accounts receivable approach to estimate the bad debts

Reference No:- TGS090341

Recent Questions Asked Accounting Basics

Q : Find the net present value of the investment

Q : Determining the present value of the investment

Q : Events using the fair value method

Q : What is the interest expense on the bonds

Q : Accounts receivable approach to estimate the bad debts

Q : Amount of overapplied overhead mean

Q : Under-or overapplication of overhead for the period

Q : Cost of goods manufactured during the year amounted

Q : What amount was transferred to the finished goods

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