Following is a list of credit customers along with their amounts owed and the days past...

 

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Following is a list of credit customers along with their amounts owed and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Percent uncollectible 0 1% 1 to 30 Days Past Due 31 to 60 3% 5% 61 to 90 8% Over 90 12% Customer Lannister Company BCC Company Mike Properties Ted Reeves Jen Steffens Accounts Receivable Days Past Due $ 4,200 14 1,200 0 5,200 111 550 2,200 75 35 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $120, record the required adjustment to the Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. Estimated balance for Allowance for Doubtful Accounts Prev 1 of 1 Next Following is a list of credit customers along with their amounts owed and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Percent uncollectible 0 1% 1 to 30 Days Past Due 31 to 60 3% 5% 61 to 90 8% Over 90 12% Customer Lannister Company BCC Company Mike Properties Ted Reeves Jen Steffens Accounts Receivable Days Past Due $ 4,200 14 1,200 0 5,200 111 550 2,200 75 35 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $120, record the required adjustment to the Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. Estimated balance for Allowance for Doubtful Accounts Prev 1 of 1 Next

Answer rating: 100% (QA)

Required 1 Aging of Accounts Receivable Schedule Accounts Receivable 1 to 30 days past due ... View the full answer