Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. blackhawk corporation estimates that $30,000 of th

Blackhawk Corporation estimates that $30,000 of their accounts made on sale is uncollectible for the...

80.2K

Verified Solution

Question

Accounting

Blackhawk Corporation estimates that $30,000 of their accounts made on sale is uncollectible for the current accounting period. How would the $30,000 be reported in Blackhawk Corporation's financial statements?

a. Recognition of an uncollectible account expense in operating expenses on the income statement

b. Recognition of a loss in non-operating items on the income statement

c. Recognition of a liability in the current liability section of the balance sheet

d. no recognition is necessary

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