Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. chez fred bakery estimates the allowance for uncol

Chez Fred Bakery estimates the allowance for uncollectible accounts at 3% of the ending balance...

70.2K

Verified Solution

Question

Accounting

image

Chez Fred Bakery estimates the allowance for uncollectible accounts at 3% of the ending balance of accounts receivable. During 2018, Chez Fred's credit sales and collections were $121,000 and $144,000, respectively. What was the balance of accounts receivable on January 1, 2018, if $130 in accounts receivable were written off during 2018 and if the allowance account had a balance of $570 on December 31, 2018? Multiple Choice 0 $44,000. 0 $820. 0 $42,130. 0 O None of these answer choices are correct

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

Physics
1.2K views

1. Choose the scenario under which each of the following Doppler shift effects will be seen: choices...

Biology
1.2K views

What is the unit of absorbance which can be derived from Beer Lambert s law...

Physics
1.2K views

The displacements of two particles executing simple harmonic motion are represented as Y 2sin 10t...

Calculus
1.2K views

Find the Maclaurin polynomials of orders n 0 1 2 3 and 4 and then...

Algebra
1.2K views

Show Hints followed by a translation 6 units right O a horizontal compression by a...

Accounting
1.2K views

How does the Fair Labor Standards Act (FLSA) define a work week? Monday through Sunday...

Accounting
1.2K views

1.Explain the differences between Federal and Ontario legislation regarding Pregnancy/Maternity Leave. 2.Do employment standard...

Accounting
1.2K views

Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company...

Accounting
1.2K views

Beauty Inc. paid $1,550,000 for all the net assets of Beast Ltd. At acquisition, the...

Accounting
1.2K views

Bogart Company is considering two alternatives. Alternative A will have revenues of $150,000 and costs...

Finance
1.2K views

which irs form is used to request information in spanish

Finance
1.2K views

Lets take a look at how New Jersey deals with the various aspects of the...