Accounting for uncollectible accounts using the allowance method and Reporting net accounts…

Accounting for uncollectible accounts using the allowance method and

Reporting net accounts receivable on the balance sheet?

Crystal clear cleaning uses the allowance method to estimate bad debts. Consider the

Following january transactions for crystal clear:


Jan.1    performed cleaning service for debbie’s d-list for $9,000 on account with terms

              3/10, n/20.

     10     borrowed money from high roller bank, $20,000, making a 180 day, 15% note.

     12     after discussions with merry cleaners, crystal clear has determined that $275 of

               The receivable owed will not be collected. Wrote off this portion of the receivable.

     15     sold goods to westford for $8,000 on account with terms 5/10, n/30. Cost of goods

               Sold was $400.

     28     sold goods to meaghan, inc. For cash of $2,000 (cost $350).

     28     collected from merry cleaners, $275 of receivable previously written off.

     29     paid cash for utilities of $450.

     31     created an aging schedule for crystal clear for accounts receivable. Crystal

              Clear determined that $8,100 of receivables were 5% uncollectible, $9,775

              Of receivables were 15% uncollectible, and $850 of receivables were 30%

             Uncollectible. Crystal clear determined the total amount of estimated uncollectible

             Receivables and adjusted the allowance for bad debts assuming a credit balance of

            $240 in the account. (round to nearest whole dollar.)


Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Live ChatWhatsApp

Are You Looking For Assignment Help? We Can Certainly Assist You