4-Accounts Receivable Question: ABC Company has the following account balances on December 31 Accounts receivable $135,000...

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4-Accounts Receivable Question: ABC Company has the following account balances on December 31 Accounts receivable $135,000 and Allowance for doubtful accounts $2,500 (Debit Balance) Aging of accounts receivable shows The following; Aging Current 1-30 days over due 31-60 days over due 61-90 days over due over 90 days over due Amount 80,000 22,000 15,000 10,000 8,000 Uncollectible 2% 10% 20% 40% 50% I Required: 1: Calculate amount of Allowance for doubtful accounts that will be reported on Dec 31. 2: Prepare general Journal entry to record bad debt expense n 4-Accounts Receivable Question: ABC Company has the following account balances on December 31 Accounts receivable $135,000 and Allowance for doubtful accounts $2,500 (Debit Balance) Aging of accounts receivable shows The following; Aging Current 1-30 days over due 31-60 days over due 61-90 days over due over 90 days over due Amount 80,000 22,000 15,000 10,000 8,000 Uncollectible 2% 10% 20% 40% 50% I Required: 1: Calculate amount of Allowance for doubtful accounts that will be reported on Dec 31. 2: Prepare general Journal entry to record bad debt expense n

Answer rating: 100% (QA)

Aging Accounts receivable Estimated uncollectible ... View the full answer