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On December 31, Manning Company has an unadjusted credit bal…

Posted byAnonymous May 16, 2025May 18, 2025

Questions

On December 31, Mаnning Cоmpаny hаs an unadjusted credit balance оf $1,600 in its Allоwance for Doubtful Accounts. Following is a schedule of its December 31 accounts receivable by age. Age of Accounts Receivable Accounts Receivable Expected Percent Uncollectible Not yet due $ 96,000 1.0% 1 to 30 days past due 64,000 2.5% 30 to 60 days past due 16,000 11.0% 61 to 90 days past due 6,500 37.0% Over 90 days past due 3,200 70.0% The Gross Accounts Receivable balance should be reported as: [answer1]. The Allowance for Doubtful Accounts balance should be reported as: [answer2]. The Net Accounts Receivable balance should be reported as: [answer3].   The Bad Debt Expense should be reported as: [answer4].

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Tags: Accounting, Basic, qmb,

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