Who space the experts?Experts are tested by thedesigningfairy.com as professionals in their subject area. We testimonial their content and also use her feedback to store the top quality high.


You are watching: The two methods of accounting for uncollectible receivables are ________.

*

Transcribed photo text: i m sorry of the adhering to are the two techniques of accountancy for uncollectible receivables? A) allowance an approach and straight write - off technique B) allowance technique and liability technique C) straight write - off technique and liability an approach D) asset an approach and sales method Which of the adhering to are two techniques of estimating uncollectible receivables? A) gun - up an approach and direct write - off an approach B) allowance method and amortization technique C) straight write - off an approach and percent - that - completion an approach D) aging -of - accounts - receivable technique and percent - the - sales method GAAP requires many companies to usage the: A) allowance an approach to evaluate bad debts. B) amortization technique to evaluate poor debts. C) 360 - day an approach to evaluate bad debts. D) direct write - off an approach to evaluate negative debts. The pin money for bad Debts account has a credit transaction balance that $2,000. The firm s management estimates that 2% the net credit sales will certainly be uncollectible because that the year 2015. Net credit sales for the year amounted to $250,000. What will be the lot of bad Debts price reported on income statement for 2015? A) $5,000 B) $3, 075 C) $2, 675 D) $2, 875 The allowance for poor Debts account has a credit transaction balance of $2,000 before the adjusting entrance for negative debt expense. The company' s management approximates that 2% that net credit sales will certainly be uncollectible because that the year 2015. Net credit transaction sales for the year price to $250,000. What will certainly be the balance the the pin money for negative Debts reported on the balance paper at December 31, 2015? A) $7,000 B) $5, 285 C) $3, 075 D) $7, 275 The allowance for poor Debts has a credit transaction balance that $9,000 before the adjusting entry for bad debt expense. After assessing the account in the accounts receivable subsidiary ledger utilizing the again method, the company's management estimates that uncollectible accounts will be $15,000, what will be the lot of poor debts price reported top top the revenue statement? A) $15,000 B) $9,000 C) $24,000 D) $ 6,000 The allowance for bad Debts account has a debit balance of $9.000 prior to the adjustment entry for blame expense.

See more: What Is Comp Meaning In Business, To Comp Or Not To Comp

After assessing the account in the account receivable subsidiary ledger using again method, the company's management approximates that uncollectible accounts will certainly be 5,000. What will be the quantity of negative debts expense reported ~ above the earnings statement? A) $4,000 B) $6,000 C) $15,000 D) $ 24,000