On December 31 of the current year, Jerome Company has an accounts receivable balance of $329,000 before any year-end adjustments. The Allowance for Doubtful Accounts has a $1,100 credit balance. The company prepares the following aging schedule for accounts receivable:
Total Balance
1-30 days
31-60 days
61-90 days
over 90 days
$329,000
$160,000
$90,000
$51,000
$28,000
Percent uncollectible
1%
2%
3%
20%
What is the Allowance for Uncollectible Accounts at December 31 of the current year after adjustments?
A) $1,100
B) $9,430
C) $10,530
D) $11,630
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On December 31 of the current year, Jerome Company has an accounts receivable balance of $329,000 before any year-end adjustments. The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Mary purchased 4 tires by mail order. She paid $57.60 per tire plus $4.30 per tire for shipping and handling. There is no sales tax, because the tires were purchased out of state. She also had to pay $7.58 per tire for mounting and balancing.
Answers (1)
An oligopolistic market structure is distinguished by several characteristics, one of which is market control by a few large firms. What are some other characteristics of this market structure? Check all that apply.
Answers (1)
Meaning is primary learners are not given other people's meanings to regurgitate there is a some sort of relationship to comparable real world activities task completion has some sort of priority the assessment of the task is in terms of outcome
Answers (1)
A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the payment of the cash dividend is:
Answers (1)
Maria takes home $6900 per month. What is the maximum amount she can spend each month on loan and credit card payments without being in danger of credit overload? O A. $69 O B. $5520 O C. $1380 O D. $690
Answers (1)
New Questions in Business
Joel wants to buy his best friend a home audio system for his birthday. He initially visits a few electronics stores to look at different brands of audio systems and compare their prices.
Answers (2)
Camera Corner is considering eliminating Model AE2 from its camera line because of losses over the past quarter.
Answers (1)
Debeers sells most of the diamonds it produces to industry. the company controls over 90 percent of the market and has great power over its distributors. in its marketing channel, debeers would be considered a:
Answers (1)
What are the four types of patogens
Answers (2)
Are designed to summarize and report on the company's basic operations using data supplied by the transaction processing systems?
Answers (1)