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Phoenix [80]
3 years ago
6

Fey Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). What bad debt e

xpense should the company report for the current period? Age of Receivables AR Balance Estimated % uncollectible Allowance Current $5,500 × 1% $55 30-60 days past due 1,200 × 3% 36 61-90 days past due 850 × 6% 51 Over 90 days past due 420 × 10% 42
Business
1 answer:
Alex Ar [27]3 years ago
7 0

Answer:

bad debt expense for the year-ended 184,000 dollars

Explanation:

The company calcualtethe bad debt expense using an agains method of his receivables.

This assign a change of turn out uncollectible based on the business experience and other factors:

<em><u>This values are in thousands of dollars:</u></em>

current account receivable (less than 30 days) 5,500 x 1% = 55

from 30 to 60 days past due: 1,200 x 3% = 36

from 61 to 90 days past due:     850 x 6% = 51

over 90 days past due:             420 x 10% = 42

Total        55 + 36 + 51 + 42 = 184

bad debt expense: 184,000

<em><u /></em>

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