4 5 B-Good, Inc. has accounts receivable at September 30 of $1,000,000. At September 30, Allowance...

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4 5 B-Good, Inc. has accounts receivable at September 30 of $1,000,000. At September 30, Allowance for Doubtful Accounts has a credit balance (prior to adjustment) of * 2,250 T 4 The Company uses the percentage of receivables basis for estimating uncollectible accounts. An analysis of the accounts and the percentage of estimated bad debts are as follows: 3 10 11 Estimated % 12 Month of Sale: September Age of Accounts 1-30 days 31-60 days 9130 Balance $650.000 Uncollectible 13 2.5% 14 August 150,000 6.0% 155 July 61-90 days 120.000 33.0% 16 June 91-120 days 50,000 59.0% 17 Prior to June over 120 days 30,000 90.0% $1,000,000 15 20 Instructions. 21 (a) Determine the total estimated uncollectibles. Total Age of Estimated Uncollectibl Accounts Balance % Cell Reference Cell Reference Cell Reference Formula Formula Cell Reference Cell Reference Cell Reference Cell Reference Cell Reference Cell Reference Formula Cell Reference Cell Reference Cell Reference Formula Cell Reference Cell Reference Cell Reference Formula Formula 02 03 DA (b) Record the adjusting journal entry to estimate bad debts. Include an explanation of the entry. 35 Credit Sep 30 Debit Formula Account Title Account Title Explanation Cell Reference (c) On 10/15, management authorizes the write-off of an uncollectible customer acc 9640 42 Record this write off. Debit Credit Oot 15 Account Title Account Title Cell Reference Cell Reference 22 24 25 26 1227 20 23 30 01 *#*#232333ES 36 40 41 40 4 5 B-Good, Inc. has accounts receivable at September 30 of $1,000,000. At September 30, Allowance for Doubtful Accounts has a credit balance (prior to adjustment) of * 2,250 T 4 The Company uses the percentage of receivables basis for estimating uncollectible accounts. An analysis of the accounts and the percentage of estimated bad debts are as follows: 3 10 11 Estimated % 12 Month of Sale: September Age of Accounts 1-30 days 31-60 days 9130 Balance $650.000 Uncollectible 13 2.5% 14 August 150,000 6.0% 155 July 61-90 days 120.000 33.0% 16 June 91-120 days 50,000 59.0% 17 Prior to June over 120 days 30,000 90.0% $1,000,000 15 20 Instructions. 21 (a) Determine the total estimated uncollectibles. Total Age of Estimated Uncollectibl Accounts Balance % Cell Reference Cell Reference Cell Reference Formula Formula Cell Reference Cell Reference Cell Reference Cell Reference Cell Reference Cell Reference Formula Cell Reference Cell Reference Cell Reference Formula Cell Reference Cell Reference Cell Reference Formula Formula 02 03 DA (b) Record the adjusting journal entry to estimate bad debts. Include an explanation of the entry. 35 Credit Sep 30 Debit Formula Account Title Account Title Explanation Cell Reference (c) On 10/15, management authorizes the write-off of an uncollectible customer acc 9640 42 Record this write off. Debit Credit Oot 15 Account Title Account Title Cell Reference Cell Reference 22 24 25 26 1227 20 23 30 01 *#*#232333ES 36 40 41 40

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Requirementa Month of Age of 930 Estimated Expected Uncollectible Un... View the full answer