6.002 Study Guide

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What is the estimated uncollectible accounts expense for the year?

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$52,750.00

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Pet Food Wholesale estimates its uncollectible accounts expense for the year to be $1,500. The correct entry to record the estimated uncollectible accounts expense is:

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What is the estimated uncollectible accounts expense for the year if total sales on account are $200,000.00 and uncollectible accounts expense is about 2% of total sales?

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$4,000.00

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Bright Lites Electrical Services uses the direct write-off method when handling uncollectible accounts receivable. Taylor Electricians owes $695 on account. Bright Lites Electrical Services determined this account to be uncollectible. The correct entry for writing off this account is:

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Steve’s Auto Shop uses the direct write-off method when handling uncollectible accounts receivable. John Taylor owes $375 on account. Steve’s Auto Shop has determined this account to be uncollectible. The correct entry for writing off this account is:

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What is the estimated uncollectible accounts expense for the year?

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$7,500

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