Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. domino company uses the aging of accounts receivab

Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino...

80.2K

Verified Solution

Question

Accounting

image
image
Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $46,890 and $3,710, respectively. During the year, the company wrote off $2.770 in uncollectible accounts. In preparation for the company's Year 2 estimate, Domino prepared the following aging schedule: Number of days Receivables amount past due Current 0-30 31-60 61-90 Over 90 Total 79,000 28,800 7,660 4,020 3,700 $123,180 % Likely to be uncollectible 1% 5% 10% 25% 50% What will Domino record as Uncollectible Accounts Expense for Year 2? Multiple Choice S2141 Multiple Choice $2,141 $5,851 $4.911 $2.770

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

Advance Math
1.2K views

Gamma Corp. manufactures and sells widgets for $6.00 each. Therefore, its total revenue, TR, from the...

Basic Math
1.2K views

Explain the advantages and disadvantages of bar charts and pie charts. Include discussion of the type...

Chemistry
1.2K views

A 21.466 g sample of aqueous waste leaving a fertilizer manufacturer contains ammonia. The sample is...

Physics
1.2K views

In a physics lab, a cube slides down a friction-less incline as shown the figure below...

Geometry
1.2K views

Which circle corresponds to x 2 y 3 36 10 10 B 6 D C

Basic Math
1.2K views

1 point This problem requires you to do some reasoning based on the total degree...

Algebra
1.2K views

5 2x 7 3 28 X X

Accounting
1.2K views

Prepare them using the necessary forms/schedules using the IRS website (IRS.gov) and go to the...

Accounting
1.2K views

You work for Thunderduck Custom Tables Inc. This is the first month of operations. The...

Accounting
1.2K views

Len Robert started his own consulting firm, Robert Consulting on June 1, 2025. The trial...

Accounting
1.2K views

Dual Transfer Pricing The Greek Company has two divisions, Beta and Gamma. Gamma Division produces...

Accounting
1.2K views

Logan White is general manager of United Salons. During 2024, White worked for the company...