a. The aging of Torme Designs' accounts receivable is shown below. Complete the schedule and determine...

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a. The aging of Torme Designs' accounts receivable is shown below. Complete the schedule and determine the total estimate of uncollectible accounts. Round your answers to two decimal places. Estimated Uncollectible Accounts Age Interval Balance Percentage Not past due $850,000 3.50% 1-30 days past due 47,500 5.00 31-60 days past due 21,750 10.00 61-90 days past due 11,250 20.00 91-180 days past due 5,065 30.00 181-365 days past due 2,500 50.00 Over 365 days past due Total 1,145 $939,210 95.00 Amount b. Assuming Allowance for Doubtful Accounts has an unadjusted credit balance of $1,135, journalize the adjusting entry for the bad debt expense for the year. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. Dec. 31 a. The aging of Torme Designs' accounts receivable is shown below. Complete the schedule and determine the total estimate of uncollectible accounts. Round your answers to two decimal places. Estimated Uncollectible Accounts Age Interval Balance Percentage Not past due $850,000 3.50% 1-30 days past due 47,500 5.00 31-60 days past due 21,750 10.00 61-90 days past due 11,250 20.00 91-180 days past due 5,065 30.00 181-365 days past due 2,500 50.00 Over 365 days past due Total 1,145 $939,210 95.00 Amount b. Assuming Allowance for Doubtful Accounts has an unadjusted credit balance of $1,135, journalize the adjusting entry for the bad debt expense for the year. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. Dec. 31

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a To determine the total estimate of uncollectible accounts we need to ... View the full answer