ra em val va Accounts Receivable Estimated percent uncollectible $ 1-30 Days 85,000 $ 0.6% Age...

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ra em val va Accounts Receivable Estimated percent uncollectible $ 1-30 Days 85,000 $ 0.6% Age of Accounts 31-60 Days 61-90 Days Over 90 Days 20,000 $ 40,000 8.0% 54.0% 65,000 $ 2.0% unt Аг Pa At December 31, 2018, the Accounts Receivable balance of Advanced Automotive Technology is $210,000 The Allowance for Bad Debts account has a $23,910 debit balance Advanced Automotive Technology prepares the following aging schedule for its accounts receivable: Cu Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018. 2. Show how Advanced Automotive Technology will report its net accounts receivable on its December 31, 2018, balance sheet. Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018 Begin by determining the target balance of Allowance for Bad Debts by using the age of each account Accounts Receivable. 1-30 Days 85,000 06. 31-60 Days $ 65,000 Age of Accounts 61-90 Days $ 20,000 20.. 80.. $ Over 90 Days 40,000 54.0.. Total Balance nunction Accounts Receivable Estimated percent uncollectible Estimated total uncollectible 3530 85,000 0.6 % $ 65,000 20 % 40,000 $ 20,000 8.0 54.0 % % the innerhadulo (Dornr rahite firet than rradite Sa Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate) Accounts and Explanation Debit Credit Date Dec. 31 Show the T-account for the Allowance for Bad Debts at December 31, 2018. Allowance for Bad Debts Requirement 2. Show how Advanced Automotive Technology will report its net accounts receivable on its December 31, 2018, balance sheet. Balance Sheet (Partial): Current Assets D. ra em val va Accounts Receivable Estimated percent uncollectible $ 1-30 Days 85,000 $ 0.6% Age of Accounts 31-60 Days 61-90 Days Over 90 Days 20,000 $ 40,000 8.0% 54.0% 65,000 $ 2.0% unt Аг Pa At December 31, 2018, the Accounts Receivable balance of Advanced Automotive Technology is $210,000 The Allowance for Bad Debts account has a $23,910 debit balance Advanced Automotive Technology prepares the following aging schedule for its accounts receivable: Cu Requirements 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018. 2. Show how Advanced Automotive Technology will report its net accounts receivable on its December 31, 2018, balance sheet. Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December 31, 2018 Begin by determining the target balance of Allowance for Bad Debts by using the age of each account Accounts Receivable. 1-30 Days 85,000 06. 31-60 Days $ 65,000 Age of Accounts 61-90 Days $ 20,000 20.. 80.. $ Over 90 Days 40,000 54.0.. Total Balance nunction Accounts Receivable Estimated percent uncollectible Estimated total uncollectible 3530 85,000 0.6 % $ 65,000 20 % 40,000 $ 20,000 8.0 54.0 % % the innerhadulo (Dornr rahite firet than rradite Sa Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate) Accounts and Explanation Debit Credit Date Dec. 31 Show the T-account for the Allowance for Bad Debts at December 31, 2018. Allowance for Bad Debts Requirement 2. Show how Advanced Automotive Technology will report its net accounts receivable on its December 31, 2018, balance sheet. Balance Sheet (Partial): Current Assets D.

Answer rating: 100% (QA)

Solution Date Dec31 Account receivable Estimated percent uncollectible Estimate... View the full answer