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Joshua company had the following information in 2016. Accts Rec 12/31/16.....$15000 Allowance for uncollected account 12/31/16 (before adjustment).....$950 credit...

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Accounting

Joshua company had the following information in 2016.

Accts Rec 12/31/16.....$15000

Allowance for uncollected account 12/31/16 (beforeadjustment).....$950

credit service revenue during 2016.....$45000

Cash service revenue during 2016.....$15000

Collections from customers on account during2016.......$45000

If uncollectible accounts are determined by the?aging-of-receivables method to be $ 1 240?, the uncollectibleaccount expense for 2016 would be $ 290. Using the?aging-of-receivables method, the balance of the Allowance accountafter the adjusting entry at? year-end 2016 would be

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The facts of the question data Unadjusted balance in Allowance account 950 Credit Adjusted balance of Allowance account required as per aging of receivables method    See Answer
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Joshua company had the following information in 2016.Accts Rec 12/31/16.....$15000Allowance for uncollected account 12/31/16 (beforeadjustment).....$950credit service revenue during 2016.....$45000Cash service revenue during 2016.....$15000Collections from customers on account during2016.......$45000If uncollectible accounts are determined by the?aging-of-receivables method to be $ 1 240?, the uncollectibleaccount expense for 2016 would be $ 290. Using the?aging-of-receivables method, the balance of the Allowance accountafter the adjusting entry at? year-end 2016 would be

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