The General Ledger Account for Accounts Receivable Shows a Debit

question 19

Essay

The general ledger account for Accounts Receivable shows a debit balance of $40,000. The Allowance for Uncollectible Accounts has a credit balance of $2,000. Net sales for the year were $250,000. In the past, 3 percent of net sales have proved uncollectible. An aging of accounts receivable accounts results in an estimate of $9,000 of uncollectible accounts receivable. Calculate (1) Uncollectible Accounts Expense and (2) the ending balance of the Allowance for Uncollectible Accounts using (a) the percentage of net sales method and (b) the accounts receivable aging method.

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Definitions:

Non-Committal

Reluctance or refusal to make a definite decision or express a definite opinion or plan.

Trait Approach

A perspective in leadership studies focusing on identifying specific qualities and characteristics that are associated with effective leadership.

Leadership Success

Refers to the effectiveness and positive outcomes attained by individuals in leadership positions within organizations.

Position Power

The authority and influence a person holds in an organization based on their job or position.