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Homework answers / question archive /  The Tigers need to record a journal entry to estimate their bad debt expense for the period

 The Tigers need to record a journal entry to estimate their bad debt expense for the period

Accounting

 The Tigers need to record a journal entry to estimate their bad debt expense for the period. The A/R aging shows a total of $750,000 in Accounts Receivable, which is broken down as follows in age: $500,000 is 0 - 30 days old: $200,000 is 31 - 60 days old; and $50.000 is over 60 days old. Under the aging of receivables approach for estimating bad debt expense, the Tigers expect the following uncollectible %'s: 1% of the A/R that is 0 - 30 days old: 14% of the A/R amounts 31 - 60 days old, and 23% of the A/R amount past due for more than 60 days. The Allowance for Uncollectible A/R account currently has a beginning debit balance of $1,000. What amount will be credited to the Allowance for Uncollectible A/R account for this joumal entry Fill in the blank with your calculated number. DO NOT include commas. S signs, period, decimal points, etc. just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24.123, you would only input: 24123

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