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3 November, 07:50

Uncollectible accounts are determined by the percent-of-sales method to be 22 % of credit sales. How much is uncollectible-account expense for 20142014 ?

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  1. 3 November, 08:46
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    Therefore uncollectibel account expense = 0.22 x 94,000 = $20,680

    Explanation:

    Uncollectible accounts are determined by the percent-of-sales method to be 22 % of credit sales. How much is uncollectible-account expense for 2014 ?

    Uncollectible Accounst will simply be 22% multiplied by the credit sales figure for the year.

    Accounts Receivable ... 26,000

    Allowance for collectible account ... 1,500

    Credit sales for 2014 ... $94,000

    Cash Sales for 2014 ... 28,000

    Collection from customers on account ... 100,000

    Therefore uncollectibel account expense = 0.22 x 94,000 = $20,680
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