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The following information pertains to TR, Inc. for the month of December:

Credit sales $963,800

Accounts payable 39,500

Accounts receivable 44,700

Allowance for Uncollectible accounts 750 credit

Cash sales 365,200 TR uses the percent of receivables method and estimates it will not collect 4% of accounts receivable.

1. Determine the ending balance for the Allowance for Uncollectible Accounts

2. Determine the appropriate amount to record for Bad Debt expense

3. Assuming the Allowance for Uncollectible accounts had a $500 debit balance, determine the amount to record for Bad Debt expense

4. After recording bad debt expense the Net Accounts Receivable is:

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92020439

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