Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. determine the total estimated uncollectables. ma

Determine the total estimated uncollectables. Marc Pty Ltd has accounts receivable of $99,300...

90.2K

Verified Solution

Question

Accounting

Determine the total estimated uncollectables.

image

Marc Pty Ltd has accounts receivable of $99,300 at 31 March 2016. An analysis of the accounts shows the following amounts Balance, 31 March Month of sale 2016 2015 March February December and January November and October $69,000 $69,900 13,900 9,400 7,000 8,600 2,100 1,000 $99,300 $81,600 Credit terms are 2/7, n/30. At 31 March 2016 there is a $1,580 credit balance in allowance for doubtful debts before adjustment. The entity uses the ageing of accounts receivable basis for estimating uncollectable accounts. Marc Pty Ltd's estimates of bad debts are as follows. Age of accounts Current 1-30 days past due 31-90 days past due Over 90 days Estimated percentage uncollectable 2.0% 5.0 30.0 50.0

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

Programming
1.2K views

Design and implement a Demand Paging virtual memory simulator! It must be a text based application (NOT...

Biology
1.2K views

The presence of cholesterol in the plasma membranes of some animals O enables the membrane...

Geometry
1.2K views

The diagram shows a triangular prism CD 7 cm AD 10 cm Angle FDC 30...

Geometry
1.2K views

4 In each case find the value of the indicated unknown a In AABC find...

Calculus
1.2K views

Evaluate the double integral of the function over the rectangle Y 1dA R 0 28...

Accounting
1.2K views

Marc Goudreau, administrator of Clearwater Hospital, was puzzled by the prior month's reports....

Accounting
1.2K views

A...

Accounting
1.2K views

22: Suggested Problems 1. Stangeland Conpany reported the following book values for items related to...

Accounting
1.2K views

Presented below is information related to Concord Company. Exercise 9-20...

Accounting
1.2K views

Please help to solve for part c, thanks a lot. The (partial) cost sheet...

Accounting
1.2K views

Please view the following video before answering this question. Video Example 8.2 A high-precision programmable...

Accounting
1.2K views

The Watson Foundation, a private not-for-profit entity, starts 2017 with cash of $102,000, contributions receivable...