Delcom had total accounts receivable on December 31, 2020, of $160,000 aged as follows: Prepare the December

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Delcom had total accounts receivable on December 31, 2020, of $160,000 aged as follows:

Prepare the December 31, 2020, adjusting entry to estimate uncollectible accounts receivable assuming an unadjusted credit balance in Allowance for Doubtful Accounts of $800.

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 11, 2019 10:32 AM

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Delcom had total accounts receivable on December 31, 2020, of $160,000 aged as follows: Prepare the December

Question:

December 31, 2020 Accounts Receivable Age of Accounts Receivable Not due (under 45 days) 1 to 30 days past due Over 30 days past due Expected Percentage Uncollectible 2% 5% $110,000 40,000 10,000 40%

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Dec 31 Bad Debt Expense 7400 Allowance for Doubtful Accounts 7400 Adjusting e...View the full answer

Fundamental Accounting Principles Volume I

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