Brief Exercise 5-10 Record the write-off of uncollectible accounts (LO5-5) The f

Question

Brief Exercise 5-10 Record the write-off of uncollectible accounts (LO5-5) The following information applies to the questions displayed below] At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $13100. By the end of the year, actual bad debts total $16,800 Section Break Brief Exercise 5-10 Record the write-off of uncollectible accounts LO5-5) value: 10.00 points Brief Exercise 5-10 Part 2 2. Following the write-off, what is the balance of Allowance for Uncollectible Accounts? (Enter the amount as a positive value.)

Explanation / Answer

5-10)

2) Balance of allowance for doubtful accounts = (13100-16800) = 3700 Debit balance

5-16) Calculate interest revenue :

(24000*10%*3/12) = 600

Year Interest revenue 2018

(24000*10%*3/12) = 600

2019 (24000*10%*9/12) = 1800

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