Question

Reformulating Allowance for Doubtful Accounts and Bad Debt Expense Merck & Company reported the following from its 2016 financial statements. $ millions 2013 2014 2015 2016 Accounts receivable, net $7,184 $6,626 $6,484 $7,018 Allowance for doubtful accounts 146 153 165 195 a. Compute accounts receivable gross for each year. $ millions 2013 2014 2015 2016 Accounts receivable, gross Answer 7,330 Answer 6,779 Answer 6,649 Answer 7,213 b. Determine the percentage of allowance to gross account receivables for each year. Round answers to two decimal places (ex: 0.02345 = 2.35%). 2013 2014 2015 2016 % allowance Answer 1.99 Answer 2.26 Answer 2.48 Answer 2.7

Answer 1

The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario.

14100

The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario.

26000

Calculate the amount of its​ Uncollectible-Account Expense.

15000

Step-by-step explanation:

Account receivable 88000 88000

Allowance for uncollectible -11000 -11000

Service revenue 470000 470000

Percent-of-sales method 3%

14100

Aging Method 26000

Expense 3100 15000

The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario.

14100

The ending balance of the Allowance for Uncollectible Accounts is $ under this scenario.

26000

Calculate the amount of its​ Uncollectible-Account Expense.

15000