Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end.
Number of Days Outstanding
Total 0-30 31-60 61-90 91-120 Over 120
Accounts receivable 200,000 77,000 46,000 39,000 23,000 $15,000
% uncollectible 1% 4% 5% 8% 20%
Calculate the total estimated bad debts based on the above information.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
All else equal, a dollar received sooner is worth more than a dollar received at some later date, because the sooner the dollar is received the more quickly it can be invested to earn a positive return. True False
Answers (1)
Is an atom with a nucleus of 31 protons and 31 neutrons a stable isotope?
Answers (1)
If a country of 300 million people has a total income of $12 trillion, its per capita income is:
Answers (1)
Expenses payable always treated as current / fixed assets. Is it true or false?
Answers (1)
Through what process can special interest groups and businesses influence the government?
Answers (1)
New Questions in Business
Replace present refrigerators with similar refrigerators at a cost of $20 x 106. Option 2. Replace present refrigerators with lake-source cooling at a cost of $50 x 106. However, the lake-source cooling would save 1.
Answers (1)
For February, sales revenue is $700,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising expenses are $90,000; shipping expenses total 2% of sales;
Answers (1)
Steven is going to purchase two stocks to form the initial holdings in his portfolio. Iron stock has an expected return of 25 percent, while Copper stock has an expected return of 19 percent.
Answers (1)
Continuous quality improvement depends heavily upon: Select one: a. hard work b. monitoring special causes of variance c. use of checklists d. employment of the PDCA cycle
Answers (1)
The difficulty in cost-benefit analysis is that the benefits are usually evident and easily measurable, while the costs are not always evident or measurable. A) True B) False
Answers (1)