An aging of Sernett Company's accounts receivable at the end of 2012 yielded the following information about the lengths of time that the receivables had been outstanding: The balance in the Allowance for Doubtful Accounts before adjustments was $310.
Based on the preceding information,
a)What should be the balance in the Allowance for Doubtful Accounts after the adjusting entry?
b)What is the amount of uncollectible accounts expense that should be reported on the income statement?

Question

An aging of Sernett Company's accounts receivable at the end of 2012 yielded the following information about the lengths of time that the receivables had been outstanding:  The balance in the Allowance for Doubtful Accounts before adjustments was $310.
Based on the preceding information,
a)What should be the balance in the Allowance for Doubtful Accounts after the adjusting entry?
b)What is the amount of uncollectible accounts expense that should be reported on the income statement?

Quizplus · Accepted Answer

The Answer of An aging of Sernett Company's accounts receivable at the end of 2012 yielded the following information about the lengths of time that the receivables had been outstanding:  The balance in the Allowance for Doubtful Accounts before adjustments was $310.
Based on the preceding information,
a)What should be the balance in the Allowance for Doubtful Accounts after the adjusting entry?
b)What is the amount of uncollectible accounts expense that should be reported on the income statement?

An Aging of Sernett Company's Accounts Receivable at the End