Colleges like The Ohio State University are working hard to make tuition affordable to deserving students. Use our tool to get a quick guess about your actual costs and links to tools to get an even better estimate directly form the college. Get Your Estimate. Future projections are based on past four years' data averaging 2.61% annual change in in-state tuition and fees and 3.14% change in out-of-state tuition and fees.
Percentage of sales method of estimating uncollectible accounts receivable. The percentage of sales method of estimating uncollectible accounts receivable is based on the relationship between uncollectible accounts receivable and the credit sales that produced them.
Businesses that extend credit to customers risk not being paid. However, the risk of uncollectible accounts is balanced by the additional revenue a business gains when it extends credit to customers. In the accounting cycle, the process of recording uncollectible accounts is called the allowance method. Several accounts are used to separate the unpaid accounts receivables from the paying accounts, and specific journal entries are included on the financial statements.