Question Details

(Solved) (Latest ver. Aug 2020) - Johnson Company uses the allowance method to account for unc

Brief item decscription

Item details:


Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debit expense is established as a percentage of credit sales. For 2011, net credit sales totaled $4,500,000, and the estimated bad debt percentage s 1.5%. The allowance for uncollectible accounts had a credit balance of $42,000 at the beginning of 2011 and $40,000, after adjusting entries, at the end of 2011;
1.What is the bad debt expense?
2.Determine the amount of accounts receivable written of during 2011.
3.If the company uses the direct write off method, what would the bad debt expense be for 2011?


About this question:

This question was answered on: Sep 16, 2020

PRICE: $11.5 (18.37 KB)

Buy this answer for only: $11.5

Pay using PayPal (No PayPal account Required) or your credit card. All your purchases are securely protected by PayPal.

Need a similar solution fast, written anew from scratch? Place your own custom order

We have top-notch tutors who can help you with your essay at a reasonable cost and then you can simply use that essay as a template to build your own arguments. This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student. New solution orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

Order Now