Accts ReceivableAllow for Doubt Accts Beg. Bal159,000904,000 CollectionsWrite-Of6,50011,470 Sales938,0006,500 Write-Of2,000 Recovery2,0002,000 Collections 186,5006,970 9,815 16,785 $186,500 X 9% =
Beg. Bal Recovery Unadjusted Balance Bad Debts Adjusted Balance $16,785
Accounts Receivable Turnover: Net Credit Sales$35,190 Average Accounts Receivable($3,300+$4,350)/2 $35,190 $3,825 9.2times Average Collection Period365 days A/R Turnover 365 9.2 39.7 days
Accts ReceivableAllow for Doubt Accts $4,200 $15,670 $11,470 Bad Debts Expense$15,670 Allowance for Doubtful Accounts ($11,470 + 4,200)
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