Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. explain how a company (a) ages its accounts receiv

explain how a company (a) ages its accounts receivable and (b) uses the information in its...

60.1K

Verified Solution

Question

Accounting

explain how a company (a) ages its accounts receivable and (b)uses the information in its year end adjusting entry to recorduncollectible accounts expense? Explain in detail.

Answer & Explanation Solved by verified expert
4.2 Ratings (897 Votes)
Answer a The company ages its account receivables into various categories There can be many account receivables Some might be very old some can be recent Accordingly the company CAN categorise them as less than 60 days old 60 120 days old and more than 120 days old or in any manner Then a certain is ascertained and estimated that this much amount will not    See Answer
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

Transcribed Image Text

explain how a company (a) ages its accounts receivable and (b)uses the information in its year end adjusting entry to recorduncollectible accounts expense? Explain in detail.

Other questions asked by students

Electrical Engineering
1.2K views

A 20 ohm resistive element, a coil of L = 100 millihennries and a capacitor of...

Basic Math
1.2K views

A drapery store manager was interested in determining whether a new employee can install vertical blinds...

Finance
1.2K views

A project has an initial cost of $8,500 and produces cash inflows of $2,700, $5,000, and...

Accounting
1.2K views

Concerning Salesforce, Inc. 2018 financials; Does the company use the indirect or direct method for preparing the...

Basic Math
1.2K views

Assume that revenue is R x 500x 2x and cost is C x 3700 100x...

Basic Math
1.2K views

California's growth rate in 2013 was 0.9%. There were roughly 38 million peopleliving in California...

Accounting
1.2K views

The company, North S.L., has the following information in the Balance Sheet and Profit and...

Accounting
1.2K views

An NOL has the potential to generate extra revenue for the taxpayer For the NOL...

Accounting
1.2K views

General Journal: On January 1, 2016, Mr. Rambo formed a new corporate (Rambo Unlimited) by...

Accounting
1.2K views

Ivanhoe Limited purchased 39,000 call options during the year. The options give the company the...

Accounting
1.2K views

Ray Company provided the following excerpts from its Production Department's flexble budget performance report. Required:...

Accounting
1.2K views

. Which of the following are barriers to intercultural communication? Select one: a. Listening, speaking,...