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  • Allowance For Bad Debts

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    Mark Johnson Lee
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    During its first year of operations in 2018, Starlight Company estimated that 5% of its $850,000 in accounts receivable may be uncollectible. The following year, Starlight estimated that 7% of its $1,500,000 in accounts receivable would prove to be doubtful accounts. Starlight must estimate the amount of allowance for doubtful accounts to account for debts that may not be collected each year.

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    Allowance for Bad Debts

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    During its first year of operations in 2018, Starlight Company estimated that 5% of its $850,000 in accounts receivable may be uncollectible. The following year, Starlight estimated that 7% of its $1,500,000 in accounts receivable would prove to be doubtful accounts. Starlight must estimate the amount of allowance for doubtful accounts to account for debts that may not be collected each year.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    10 views2 pages

    Allowance For Bad Debts

    Uploaded by

    Mark Johnson Lee
    During its first year of operations in 2018, Starlight Company estimated that 5% of its $850,000 in accounts receivable may be uncollectible. The following year, Starlight estimated that 7% of its $1,500,000 in accounts receivable would prove to be doubtful accounts. Starlight must estimate the amount of allowance for doubtful accounts to account for debts that may not be collected each year.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    PROBLEM:
    ALLOWANCE FOR BAD DEBTS
    During 2018, its first year of operation Starlight
     It is the practice of providing an allowance for doubtful company rendered janitorial services on account
    accounts or bad debts is based on “conservatism or to 1,200,000, of which 850,000 as the end of that
    prudence”. year. It was estimated on December 31 that 5% of
    the accounts receivable balance may prove to be
    uncollectible. The following year, the company
    rendered services on credit for 1,500,000 and
    collected 1,400,000 of its receivables. At year-end
    starlight company estimated doubtful accounts at
    7% of its accounts receivable.

    EXPERIENCE
    Job Title | Company | Dates From – To
    Summarize your key responsibilities, leadership, and most stellar
    accomplishments. Don’t list everything; keep it relevant and include
    data that shows the impact you made.
    Job Title | Company | Dates From – To Email Telephone
    Think about the size of the team you led, the number of projects you
    balanced, or the number of articles you wrote.

    LinkedIn URL Twitter handle


    EDUCATION
    Link to other online properties: Portfolio/Website/Blog
    Degree | Date Earned | School
    You might want to include your GPA and a summary of relevant
    coursework, awards, and honors.
    EXTRA NOTES:
    Degree | Date Earned | School
     Calendar Year = from Jan. 1 to Dec. 31.
    On the Home tab of the ribbon, check out Styles to apply the 
    formatting you need with just a click.

    SKILLS OBJECTIVE
    Explain what you’re especially good at. What sets you apart? To get started, click placeholder text and
    Use your own language—not jargon. start typing. Be brief: one or two
    sentences.

    1
    EXPERIENCE
    Email Telephone
    Job Title | Company | Dates From – To
    Summarize your key responsibilities, leadership, and most stellar
    accomplishments. Don’t list everything; keep it relevant and include
    data that shows the impact you made.
    LinkedIn URL Twitter handle
    Job Title | Company | Dates From – To
    Think about the size of the team you led, the number of projects you
    Link to other online properties:
    balanced, or the number of articles you wrote.
    Portfolio/Website/Blog

    EDUCATION
    Degree | Date Earned | School VOLUNTEER
    You might want to include your GPA and a summary of relevant EXPERIENCE OR
    coursework, awards, and honors.
    LEADERSHIP
    Degree | Date Earned | School
    Did you manage a team for your club, lead
    On the Home tab of the ribbon, check out Styles to apply the a project for your favorite charity, or edit
    formatting you need with just a click. your school newspaper? Go ahead and
    describe experiences that illustrate your
    leadership abilities.

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