The following information pertains to Lightning Inc., at the end of December: Credit Sales Accounts Payable Accounts Receivable Allowance for Uncollectible Accounts Cash Sales $60,000 10.000 7.000 $400 credit 20,000 Lightning uses the aging method and estimates it will not collect 2% of accounts receivable not yet due, 10% of receivables less than 30 days past due, and 40% of receivables greater than 30 days past due. The accounts receivable balance of $7,000 consists of $3,500 not yet due, $2,000 less than 30 days past due, and $1,500 greater than 30 days past due. What is the appropriate amount of Bad Debt Expense?

$1,270

Explanation:

The following information pertains to Lightning Inc., at the end of December:  

Credit Sales $60,000

Accounts Payable 10.000

Accounts Receivable 7.000

Allowance for Uncollectible Accounts 400

credit 20,000  

Lightning uses the aging method and estimates it will not collect :

1. 2% of accounts receivable not yet due, $3500

2. 10% of receivables less than 30 days past due, $2000 and  

3. 40% of receivables greater than 30 days past due. $1500

The accounts receivable balance of $7,000 consists of $3,500 not yet due, $2,000 less than 30 days past due, and $1,500 greater than 30 days past due, as stated above

The appropriate amount of Bad Debt Expense?

(0.02*3500)+(0.1*2000)+(0.4*2,500) = 1,270

answer: 11/12

step-by-step explanation: 4 1/4 and 3 1/3 is equivalent to 4 3/12 and 3 4/12. 4 3/12 - 3 4/12 =11/12

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;