Scribd Logo
Upload

Welcome to Scribd!

  • Winfrey Designs Had An Unadjusted Credit Balance in Its Allowance

    Uploaded by

    Let's Talk With Hassan
    79 views1 page
    Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts of $1,800 at the end of 2014. In 2015, credit sales were $1,200,000 and accounts receivable collected were $995,000, while sales discounts and accounts written off totaled $22,000 and $24,000 respectively. An adjusting entry is required on December 31, 2015 to estimate uncollectible receivables based on an aging analysis.

    Original Description:

    Original Title

    Winfrey Designs Had an Unadjusted Credit Balance in Its Allowance

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts of $1,800 at the end of 2014. In 2015, credit sales were $1,200,000 and accounts receivable collected were $995,000, while sales discounts and accounts written off totaled $22,000 and $24,000 respectively. An adjusting entry is required on December 31, 2015 to estimate uncollectible receivables based on an aging analysis.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    79 views1 page

    Winfrey Designs Had An Unadjusted Credit Balance in Its Allowance

    Uploaded by

    Let's Talk With Hassan
    Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts of $1,800 at the end of 2014. In 2015, credit sales were $1,200,000 and accounts receivable collected were $995,000, while sales discounts and accounts written off totaled $22,000 and $24,000 respectively. An adjusting entry is required on December 31, 2015 to estimate uncollectible receivables based on an aging analysis.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    Winfrey Designs had an unadjusted credit balance in its

    Allowance #4425
    Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at
    December 31, 2014, of $1,800.Requireda. Prepare the adjusting entry assuming that Winfrey
    estimates uncollectible accounts based on an aging analysis as follows:b. During 2015, credit
    sales were $1,200,000; sales discounts taken were $22,000; accounts receivable collected
    were $995,000; and accounts written off during the year totaled $24,000. Prepare the adjusting
    entry required on December 31, 2015, to estimate uncollectible receivables assuming it is based
    on the following aging analysis.c. Show how accounts receivable would appear on the
    December 31, 2015, balance sheet.Analysis Component: Comment on the advantages and
    disadvantages of using an aging analysis for estimating uncollectible accounts.View Solution:
    Winfrey Designs had an unadjusted credit balance in its Allowance

    ANSWER
    http://paperinstant.com/downloads/winfrey-designs-had-an-unadjusted-credit-balance-in-its-
    allowance/

    1/1
    Powered by TCPDF (www.tcpdf.org)

    You might also like