Renue Spa had the following balances at December Year : Cash of $ Accounts Receivable of $ Allowance for Doubtful Accounts of $ and Retained Earnings of $ During Year the following events occurred:
$ of accounts receivable were written off as uncollectible.
The company unexpectedly collected $ of receivables that had been written off in a previous accounting period.
Services provided on account during Year were $
Cash collections from receivables were $
Uncollectible accounts expense was estimated to be percent of the sales on account for the period.
Required:
Organize the transaction data in accounts under an accounting equation.
Based on the preceding information, compute after yearend adjustment:
Balance of Allowance for Doubtful Accounts at December Year
Balance of Accounts Receivable at December Year
Net realizable value of Accounts Receivable at December Year
What amount of uncollectible accounts expense will Renue Spa have for Year
