Sheridan Corporation had a 1/1/25 balance in Allowance for Doubtful Accounts of $27000. During 2025,...

60.1K

Verified Solution

Question

Accounting

Sheridan Corporation had a 1/1/25 balance in Allowance for Doubtful Accounts of $27000. During 2025, the company wrote off
$18840 of accounts and collected $4710 on accounts previously written off. The balance in Accounts Receivable was $470000 at 1/1
and $551000 at 12/31. At 12/31/25, Sheridan estimates that 5% of accounts receivable will prove to be uncollectible. What should
Sheridan report for Allowance for Doubtful Accounts at 12/31/25?
$16920.
$12210.
$27550.
$12870.

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