The company estimates future uncollectible accounts. The company determines $5,700 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.) Record the adjusting entry for uncollectible accounts.

2.- Those that remain pending receivable that are not yet due would be 5% of the difference between 5700 - 1140 = $ 4560, that would be as follows: 4560 x 0.05 = $ 228

3.- So the balance of accounts receivable on January 31, Registradro as uncollectible accounts would amount to the sum of the two previous amounts: $ 1140 + $ 228 = $ 1368.

The answer is: $ 1368.

topeadeniran2 topeadeniran2 · Answer 2 · 2021-10-01T21:55:08+02:00

The bad debt expense is $1377

Based on the information given, the bad debt expense will be calculated thus:

= ($5700 × 20%) + [($5700 × (100 - 20%) × 5%)

= ($5700 × 20%) + ($5700 × 80% × 5%)

= ($5700 × 0.2) + ($5700 × 0.8 × 0.05)

= $1149 + $228

= $1377

Then, the adjusting entry will be:

Debit: Bad debt expense $1377

Credit: Allowance for uncollectible account $1377

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