Allegheny Company ended 2015 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $23,000 and $900, respectively. During 2016, Allegheny wrote off $1,500 of Uncollectible Accounts. After aging its receivables, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $1,600. What will Allegheny report as Uncollectible Accounts Expense on its 2016 income statement

Allegheny should report as $2,200 as Uncollectible Accounts Expense on its 2016 income statement.

Explanation:

Allegheny determines its bad debt expense by aging its receivables.

The write-off during 2016 would have this effect:

Debit Allowance for doubtful accounts                    $1,500

Credit Accounts receivable                                       $1,500

(To record write-off during 2016)

The balance in the allowance for doubtful accounts would be $900 - $1,500 = $600 Debit

To reinstate the Allowance account to the estimated amount of $1,600, we need to add back the debit balance to arrive at $1,600 + $600 = $2,200.

The net realizable value of the Accounts receivable becomes: $23,000 - $1,500 - $1,600 = $19,900

answer; foreign exchange transaction;

administrative jobs normally have someone answering phone calls and scheduling appointments, filing patient or customer information, making sure the front of the office looks nice to those who enter the building. administrative jobs can also include making sure the manager has everything they need for meetings, making delivers and much more. administrative jobs are important to most businesses as are customer service focused as they are often one of the first impressions a consumer sees of a business.