Umbrella com had the following balances on December 31, 2016, 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, 2016 Accounts Receivable 105,600 Allowance for Uncollecible Acco...

Journal DATE ACCOUNTS AND EXPLANATIONS POST Dr Cr REF 2016 Dec ...

Umbrella.com had the following balances on December 31, 2016, before the year-end adjustments: The aging of receivables

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Umbrella.com had the following balances on December 31, 2016, before the year-end adjustments:

Accounts Receivable 105,600 Allowance for Uncollecțible Accounts 2,000 | Bal Bal

The aging of receivables yields these data:

1-30 Days $66,000 $24,000 $12,000 $3,600 $105,600 Age of Accounts 61-90 Over 90 31-60 Days Days Days Receivables Total A

Journalize Umbrella’s entry to adjust the allowance account to its correct balance on December 31, 2016?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Nov 17, 2017 09:01 AM

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Umbrella.com had the following balances on December 31, 2016, before the year-end adjustments: The aging of receivables

Question:

Accounts Receivable 105,600 Allowance for Uncollecțible Accounts 2,000 | Bal Bal 1-30 Days $66,000 $24,000 $12,000 $3,600 $105,600 Age of Accounts 61-90 Over 90 31-60 Days Days Days Receivables Total Accounts Receivable Estimate Percentage Uncollectible. . x 1% x 6% x 53% x 2%

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Financial Accounting

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