On December 31 of the current year,James Company has an accounts receivable balance of $319,000 before any year-end adjustments.The Allowance for Doubtful Accounts has a $1,400 credit balance.The company prepares the following aging schedule for accounts receivable: What is the Uncollectible-Account Expense at December 31 of the current year after adjustments?

Question

On December 31 of the current year,James Company has an accounts receivable balance of $319,000 before any year-end adjustments.The Allowance for Doubtful Accounts has a $1,400 credit balance.The company prepares the following aging schedule for accounts receivable:  What is the Uncollectible-Account Expense at December 31 of the current year after adjustments?

Quizplus · Accepted Answer

($158,000 × 0.01)+ ($86,000 × 0.02)+ ($55,000 × 0.05)+ ($20,000 × 0.22)= $10,450
$10,450 - $1,400 = $9,050

On December 31 of the Current Year,James Company Has an Accounts