Do not give image format An aging analysis of Marx Limited's accounts receivable at March 31, 2024 and 2023, showed the following:Number of DaysOutstanding0-30 days31-60 days61-90 daysOver 90 daysTotal1.Accounts Receivable2.2024$420,000 $379,000258,000127,000132,00061,000Additional information:246,000$871,000 $909,0002023 Percentage Uncollectible157,000Estimated1%8%13%20%At March 31, 2023, the unadjusted balance in Allowance for Expected Credit Losses was $6,700.In 2024, $98,000 of accounts were written off as uncollectible and $5,300 of accounts previously written off wererecovered.

Allowance for doubtful accounts is the ledger used to record the uncollectible accounts.…

An aging analysis of Marx Limited's accounts receivable at March 31, 2024 and 2023, showed the following: Number of Days Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total 1. Accounts Receivable. 2. 2024 2023 $420,000 $379,000 258,000 127,000 132,000 157,000 246,000 $871,000 $909,000 Additional information: 61,000 Estimated Percentage Uncollectible 1% 8% 13% 20% At March 31, 2023, the unadjusted balance in Allowance for Expected Credit Losses was $6,700. In 2024, $98,000 of accounts were written off as uncollectible and $5,300 of accounts previously written off were recovered.

An aging analysis of Marx Limited's accounts receivable at March 31, 2024 and 2023, showed the following: Number of Days Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total 1. Accounts Receivable. 2. 2024 2023 $420,000 $379,000 258,000 127,000 132,000 157,000 246,000 $871,000 $909,000 Additional information: 61,000 Estimated Percentage Uncollectible 1% 8% 13% 20% At March 31, 2023, the unadjusted balance in Allowance for Expected Credit Losses was $6,700. In 2024, $98,000 of accounts were written off as uncollectible and $5,300 of accounts previously written off were recovered.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 23E

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