Estimate bad debt expense for Sarah's Book Co. using the information for the total accounts...
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Estimate bad debt expense for Sarah's Book Co. using the information for the total accounts receivable in the table below. Complete the table by calculating the amount uncollectible in each aging bucket. Sum for the total uncollectible amount. 61- Customer # Not Balance Past Due 31- 1-30 60 91- 181- Over 180 365 365 90 Total $15,250 7,500 2,350 1,600 1,450 1,000 750 600 Percent Uncollectible 1% 4% 7.5% 15% 30% 60% 82% Est. of uncollectible accounts $???? $xxx $xxx xxx $xxxx $xxx $xxx $xxx 28 Beginning inventory, purchases, and sales for Item 4417 are as follows: July 1 Inventory 50 units $80 12 Sale 30 units 19 Purchase 40 units $85 Sale 25 units Assuming a perpetual inventory system and FIFO method, determine the cost of merchandise sold for July and the ending inventory value at the end of July. 31a. Cost of merchandise sold Samount? 31b. Ending inventory Samount
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