contestada

During 2021, Jacobsen wrote off $18,000 in receivables and recovered $6,000 that had been written off in prior years. Jacobsen's December 31, 2020, allowance for uncollectible accounts was $40,000. Using the balance sheet approach, what amount of allowance for uncollectible accounts should Jacobsen report at December 31, 2021

Respuesta :

thaovtp1407

Answer:

$52,000

Explanation:

Given that:

  • The beginning balance of allowance for uncollectible amounts: $40,000
  • $18,000 in receivables were written off (the balance increase)
  • $6,000 in  recovered the amount which were written off in 2019 (the balance decrease)

Hence, the ending balance of allowance for uncollectible amounts should Jacobsen report at December 31, 2021 by using the balance sheet is:

$40,000+$18,000 -$6,000

= $52,000

Hope it will find you well.

Otras preguntas