The following aging information pertains to Jacobsen Co.'s accounts receivable at December 31, 2021: Days Outstanding Amount Estimated % Uncollectible 0-30 $ 437,000 3 % 31-60 157,000 4 % 61-120 117,000 9 % Over 120 137,000 18 % During 2021, Jacobsen wrote off $19,700 in receivables and recovered $7,700 that had been written off in prior years. Jacobsen's December 31, 2020, allowance for uncollectible accounts was $48,500. Using the balance sheet approach, what amount of allowance for uncollectible accounts should Jacobsen report at December 31, 2021? Multiple Choice a.$62,280. b.$30,230. c.$54,580 ... d.$34,880.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following aging information pertains to Jacobsen Co.'s accounts receivable at December 31, 2021: Days Outstanding Amount Estimated % ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
On January 5, Thomas Company, which follows a calendar year, issued $1,000,000 of notes payable, of which $250,000 is due on January 1 each of the next four years. The proper balance sheet presentation on December 31 is
Answers (2)
Many experts predicted that small, local isps would disappear as regional and national isps began offering local access. this hasn't happened. why?
Answers (1)
Ralph gives his daughter, angela, stock (basis of $8,000; fair market value of $6,000). no gift tax results. if angela subsequently sells the stock for $10,000, what is her recognized gain or loss? a. $10,000 b. $4,000 c. $0 d. $2,000 e.
Answers (2)
Suppose that the increase in the fee from $8 to $16 reduces travel time in the central city from 30 minutes down to 20 minutes. what is the percentage change in the total cost of driving in central london?
Answers (2)
If an investor anticipates an annual rental income from a leased property to be $400,000 dollars, this expected sum has a direct bearing on what the investor will pay for the property. This is an example of
Answers (1)
New Questions in Business
What are two types of businesses that would probably use a sole proprietorship as a form of business ownership?
Answers (1)
Which financial problems might cause a person to be considered a bad risk for a loan to purchase a home? Check all that apply.
Answers (2)
Companies can adapt their catalog revenue model online by replacing or supplementing their print catalogs with information on their Web sites. True False
Answers (1)
The United Kingdom produces computers and sells them to Japan. At the same time Japan produces cars and sells them to the United Kingdom. Suppose there is an appreciation in the pound. This will cause: A.
Answers (1)
When obtaining a mortgage, in order to not be taken, paying a much higher rate than neccessary, which can easily cost well over 100,000 additional dollars over the life of the loan, the authors recommend getting a minimum of how many quotes?
Answers (1)