Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. at january 1, 2002, betty derose, inc. had an allo

At January 1, 2002, Betty DeRose, Inc. had an allowance for doubtful accounts with a...

50.1K

Verified Solution

Question

Accounting

At January 1, 2002, Betty DeRose, Inc. had an allowance for doubtful accounts with a $2,700 credit balance. During 2002, Betty did not write-off any accounts receivable as uncollectible. Additionally, during 2002, Betty recorded $1,400 of recoveries of accounts receivable written off in prior years. At December 31, 2002, Betty prepared the following aging schedule:

Accounts Receivable % Uncollectible

not past due $150,000 2%

1-30 days past due 35,000 5%

31-60 days past due ? 8%

61-90 days past due 8,000 15%

over 90 days past due 2,000 50%

Based on the above information, Betty DeRose, Inc. estimated its bad debt expense to be $6,210 for 2002. Calculate the amount of accounts receivable that were 31-60 days past due. Do not use decimals in your answer.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students