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receivable as uncollectible
Casebolt Company wrote off the following accounts receivable as uncollectible for the first year
of its operations ending December 31, 2016:Customer _______________AmountShawn
Brooke ................ $ 4,650Eve Denton ...................... 5,180Art Malloy .....................
11,050Cassie Yost ...................... 9,120Total ........................... $30,000a. Journalize the write-
offs for 2016 under the direct write-off method.b. Journalize the write-offs for 2016 under the
allowance method. Also, journalize the adjusting entry for uncollectible accounts. The company
recorded $5,250,000 of credit sales during 2016. Based on past history and industry averages,
¾% of credit sales are expected to be uncollectible.c. How much higher (lower) would Casebolt
Company's 2016 net income have been under the direct write-off method than under the
allowance method?View Solution: Casebolt Company wrote off the following accounts
receivable as uncollectible
SOLUTION-- http://solutiondone.online/downloads/casebolt-company-wrote-off-the-following-
accounts-receivable-as-uncollectible/