Umbrella com had the following balances on December 31, 2012, before the year end adjustments The aging of receivables yields these data Journalize Umbrellas entry to adjust the allowance account to its correct balance on December 31,2012 Accounts Receivable Allowance for Uncollectible Accounts Bal...

Journal DATE ACCOUNTS AND EXPLANATIONS POST REF Dr Cr 2012 Dec 31 ...

Umbrella.com had the following balances on December 31, 2012, before the year-end adjustments: The aging of receivables

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Umbrella.com had the following balances on December 31, 2012, before the year-end adjustments:

The aging of receivables yields these data:

Umbrella.com had the following balances on December 31, 2012, before

Journalize Umbrellaâ€™s entry to adjust the allowance account to its correct balance on December 31,2012.

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Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Apr 29, 2014 02:50 AM

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Umbrella.com had the following balances on December 31, 2012, before the year-end adjustments: The aging of receivables

Question:

Accounts Receivable Allowance for Uncollectible Accounts Bal 105.600 Bal 2,000 Age of Accounts 1-30 31-60 61-90 Over 90 Total Days Days Days Days Receivables Accounts Receivable Estimate Percentage Uncollectible $66,000 $24,000 S12,000 $3,600 S105,600 x1% x2% ×6% ×53%

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Financial Accounting

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