Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the...
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Accounting
Swathmore Clothing Corporation grants its customers days' credit. The company uses the allowance method for its uncollectibl accounts receivable. During the year, a monthly bad debt accrual is made by multiplying times the amount of credit sales for the month. At the fiscal yearend of December an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly.
At the end of accounts receivable were $ and the allowance account had a credit balance of $ Accounts receivable activity for was as follows:
tableBeginning balance,$
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