Patrick Company had the following information in 2021: (Click the icon to view the information.) If uncollectible accounts are determined by the aging-of-receivables method to be $1,280, the uncollectible account expense for 2021 would be $480. Using the aging-of-receivables method, the balance of the Allowance account after the adjusting entry at year-end 2021 would be - X Data table OA. $800. O B. $1,280. Accounts receivable 12/31/21 13,000 OC. $520. Allowance for uncollectible-accounts credit balance 12/31/21 (before adjustment) 800 OD. $480. Credit service revenue during 2021 43,000 Cash service revenue during 2021 13,000 Collections from customers on account during 2021 42,000 Print Done

Patrick Company had the following information in 2021: (Click the icon to view the information.) If uncollectible accounts are determined by the aging-of-receivables method to be $1,280, the uncollectible account expense for 2021 would be $480. Using the aging-of-receivables method, the balance of the Allowance account after the adjusting entry at year-end 2021 would be - X Data table OA. $800. O B. $1,280. Accounts receivable 12/31/21 13,000 OC. $520. Allowance for uncollectible-accounts credit balance 12/31/21 (before adjustment) 800 OD. $480. Credit service revenue during 2021 43,000 Cash service revenue during 2021 13,000 Collections from customers on account during 2021 42,000 Print Done

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter14: Accounting For Uncollectible Accounts Receivable

Section14.1: Uncollectible Accounts Receivable

Problem 1OYO

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