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  3. on january 1, 2016, kincaid company's accounts rec

On January 1, 2016, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried...

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Accounting

On January 1, 2016, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $65,400 and $1,700, respectively. During the year Kincaid reported $162,000 of credit sales. Kincaid wrote off $1,350 of receivables as uncollectible in 2016. Cash collections of receivables amounted to $178,900. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
The amount of uncollectible accounts expense recognized in the 2016 income statement will be:
Kincaid's entry to recognize the write-off of the uncollectible accounts will
Kincaid's entry required to recognize the uncollectible accounts expense for 2016 will
The net realizable value of receivables appearing on Kincaid's 2016 balance sheet will amount to:

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