how much higher lower would silhouette rsquo s 2012 net income have been under the d 554137

Mar. 4.

Wrote off account of Myron Rimando, $7,500.

May 19.

Received $2,000 as partial payment on the $10,000 account of Shirley Mason. Wrote off the remaining balance as uncollectible.

Aug. 7.

Received the $7,500 from Myron Rimando, which had been written off on March 4. Reinstated the account and recorded the cash receipt.

Dec. 31.

Wrote off the following accounts as uncollectible (record as one journal entry):

Brandon Peele

$ 5,000

Clyde Stringer

9,000

Ned Berry

13,000

Mary Adams

2,000

Gina Bowers

4,500

Dec. 31.

Wrote off the following accounts as uncollectible (record as one journal entry):

Aging Class (Number

Receivables Balance

Estimated Percent of

of Days Past Due)

on December 31

Uncollectible Accounts

0–30 days

$300,000

1%

31–60 days

80,000

4

61–90 days

20,000

15

91–120 days

10,000

40

More than 120 days

40,000

80

Total receivables

$450,000