# 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 Cash Sales 20,000 Lightning uses the aging method and estimates it will not collect 2% of accounts receivable not yet due, 10% of receivables up to 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 u

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 Cash Sales 20,000 Lightning uses the aging method and estimates it will not collect 2% of accounts receivable not yet due, 10% of receivables up to 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 up to 30 days past due, and $1,500 greater than 30 days past due. What is the appropriate amount of Bad Debt Expense ## Answers #### Similar Solved Questions 1 answer ### Find the measures of two complementary angles if one angle is 18degrees more than three times the other angle. Find the measures of two complementary angles if one angle is 18degrees more than three times the other angle.... 1 answer ### Can someone help me in about to cry- this stuff is due 11:00 today and I don’t get it . 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