The General Ledger Account for Accounts Receivable Shows a Debit

question 176

Essay

The general ledger account for Accounts Receivable shows a debit balance of $37,500.The Allowance for Uncollectible Accounts has a debit balance of $1,000.Net sales for the year were $375,000.In the past,2 percent of net sales have proved uncollectible.An aging of accounts receivable accounts results in an estimate of $6,250 of uncollectible accounts receivable.Calculate (a)Uncollectible Accounts Expense and (b)the ending balance of the Allowance for Uncollectible Accounts using (i)the percentage of net sales method and (ii)the accounts receivable aging method.

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Definitions:

Classic Theorists

Thinkers who have made significant contributions to social theory, including but not limited to Marx, Weber, and Durkheim, whose ideas form the foundation of sociological study.

Postmodern Lens

Viewing subjects through a postmodern lens involves questioning grand narratives, embracing complexity, and recognizing the fragmented, decentralized nature of reality and knowledge in the postmodern era.

Jean Baudrillard

A French sociologist, philosopher, and cultural theorist known for his analyses of media, simulation, and hyperreality.

Social

This term pertains to the relationships, interactions, and structures within groups of people and societies, shaping and being shaped by human behaviors and institutions.