Allowance Method - Percentage of Receivables Aging Schedule Renoir Co. shows the following data before its...

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Allowance Method - Percentage of Receivables Aging Schedule Renoir Co. shows the following data before its quarter-end adjustment to estimate uncollectible accounts. Accounts Receivable $ 195,000 Allowance For Doubtful Accounts $ 2,000 Estimated Month of Sale Balance Age of Accounts Percentage Uncollectible March February SS $ 150,000 1 - 30 days 2.5% $ 27,000 30 - 60 days 5% January $ 13,000 60 - 90 days 35% Prior to January $ 5,000 Over 90 days 70% $ 195,000 Estimated Percentage Age of Accounts Balance Uncollectible Total Estimated Uncollectible 1-30 days $ 150,000 30 - 60 days $ 27,000 60-90 days $ 13,000 Over 90 days $ 5,000 Use the above information to record Renoir's March 31st adjustment to estimate bad debts expense. Debit Credit Allowance Method - Percentage of Receivables Aging Schedule Renoir Co. shows the following data before its quarter-end adjustment to estimate uncollectible accounts. Accounts Receivable $ 195,000 Allowance For Doubtful Accounts $ 2,000 Estimated Month of Sale Balance Age of Accounts Percentage Uncollectible March February SS $ 150,000 1 - 30 days 2.5% $ 27,000 30 - 60 days 5% January $ 13,000 60 - 90 days 35% Prior to January $ 5,000 Over 90 days 70% $ 195,000 Estimated Percentage Age of Accounts Balance Uncollectible Total Estimated Uncollectible 1-30 days $ 150,000 30 - 60 days $ 27,000 60-90 days $ 13,000 Over 90 days $ 5,000 Use the above information to record Renoir's March 31st adjustment to estimate bad debts expense. Debit Credit