Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. information related to accounts receivable is give

Information related to accounts receivable is given: Mobile Technology Ltd. reported an unadjusted balance of...

70.2K

Verified Solution

Question

Accounting

Information related to accounts receivable is given: Mobile Technology Ltd. reported an unadjusted balance of accounts receivable of $1,290,000 at 31 December 20X3, along with a credit balance in the allowance for doubtful accounts of $83,200 and an allowance for sales discounts of $6,100. At year-end, the company determined that an allowance of $12,000 for sales discounts was needed. It also decided that $53,600 of accounts receivable were uncollectible and should be written off. Of the remaining receivables, it was determined that 45% were current, and of the remaining net current balance, an allowance for doubtful accounts of 2% of the net balance was needed. The remaining 55% of outstanding accounts receivable were past due and an allowance for

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

process of translation in dna

Medical Sciences
Q

Draw a pressure/volume loop of the cardiac cycle and label the axes and phases clearly. For...

Medical Sciences
Q

What role might toxic masculinity be playing in sexual harassment, mass shootings, mass incarceration, or other issues?

Psychology
Q

Should simulate at Tinkercad with UNO images. For this project you are encouraged to come up with...

Electrical Engineering
Q

An ideal gas at 27 C is compressed adiabatically to 8 27 of its original...

Physics
Q

1 Time period of vibration of a bar magnet in vibration magnetometer is T If...

Physics
Q

Using the triangle below find the missing length for side d Round your answer to...

Geometry
Q

I need help with both parts please and thank you. value (NPV) and...

Accounting
Q

HS16 4-022020 $2,417,100 $37,5002020 $1,452,900 $221,200 $502 $502$70030%2020105,10072,270312020

Accounting
Q

cannot figure this out I have some items but not sure what to do with...

Accounting
Q

Crane Company sells goods that cost $350,000 to Matthew Company for $425,000 on January 2,2023...

Accounting
Q

Which of the following would be included in cash and cash equivalents on the balance...

Accounting