Al December 31, 2020, the Accounts Receivable balance of TM Manufacture is $358,000. The Allowance for...

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Al December 31, 2020, the Accounts Receivable balance of TM Manufacture is $358,000. The Allowance for Doubtful Accounts has a(n) 58,900 credit balance. Accountants for TM Manufacture prepare the following aging schedule for its accounts receivable: A (Click the icon to view the aging schedule.) Required 1. Journalize the adjusting entry for doubtful accounts based on the aging schodule. Show the T-account for the allowance at December 31, 2020 2. Show how TM Manufacture will roport Accounts Receivable on its December 31, 2020, balance shoet 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,600 debit balance Calculate the amount of the adjusting entry. Requirement 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule. Show the T-account for the allowance at December 31, 2020. Begin by journalizing the adjusting entry. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of UeT EIACY PoY Emkion Contact US Now, prepare the Taccount for Allowance for Doubtlul Accounts (If a box is not used in the T-account, leave the box empty: do not enter a zero. Abbreviations used Bal-Balance, adi -adjuntments) L-1 Allowance for Doubtlul Accounts Requirement 2. Show how TM Manufacture will report Accounts Receivable on its December 31, 2020, balance sheet TM Manufacture Balance Sheet (partia Choose trom any list or enter any number in the input fneids and then continue to the next question Requirement 2. Show how TM Manufacture will report Accounts Receivable on its December 31, 2020, balance sheet. TM Manufacture Balance Sheet (partial) December 31, 2020 Accounts receivable, net Requirement 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,600 debit bala Choose from any list or enter any number in the input fields and then continue to the next question. 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a S$1,600 debi balance. Cakculate the amount of the adjunsing entry Requirement 3. Suppose al the facts of this situation are the same except that Allowance for Doubtlul Accounts has a $1,600 debit balance. Cakulate the amount of the adjusting entry Allowance for Doubtful Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Unadjusted balance Choose fromn any list or enter any number in the input fields and then continue to the next question Required 1. Journalize the adjusting entry for doubtful accounts based on the agin 2. Show how TM Manufacture will report Accounts Receivable on its De 3. Suppose all the facts of this situation are the same except that Allowa Allowance for Doubtful Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Unadjusted balance Adjusting entry amount Choose from any list or enter any number in the input fields and ther alance of TM Manufacture is $358,000. The Allowance for Doubtful Accounts has a(n) $8,900 credit balance. Accountants for T ants ba O Aging Schedule -X Rece me exc Age of Accounts Receivable 1-30 31-60 61-90 Over 90 Days Days Days Days Total Accounts Receivable $158.000 $94.000 S76,000 $30,000 $358, 000 Estimated percent uncollectible 1.5% 3.0% 12.0% 55.0% Allowance Needed Print Done Al December 31, 2020, the Accounts Receivable balance of TM Manufacture is $358,000. The Allowance for Doubtful Accounts has a(n) 58,900 credit balance. Accountants for TM Manufacture prepare the following aging schedule for its accounts receivable: A (Click the icon to view the aging schedule.) Required 1. Journalize the adjusting entry for doubtful accounts based on the aging schodule. Show the T-account for the allowance at December 31, 2020 2. Show how TM Manufacture will roport Accounts Receivable on its December 31, 2020, balance shoet 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,600 debit balance Calculate the amount of the adjusting entry. Requirement 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule. Show the T-account for the allowance at December 31, 2020. Begin by journalizing the adjusting entry. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question Copyright 2020 Pearson Education Inc. All rights reserved. Terms of UeT EIACY PoY Emkion Contact US Now, prepare the Taccount for Allowance for Doubtlul Accounts (If a box is not used in the T-account, leave the box empty: do not enter a zero. Abbreviations used Bal-Balance, adi -adjuntments) L-1 Allowance for Doubtlul Accounts Requirement 2. Show how TM Manufacture will report Accounts Receivable on its December 31, 2020, balance sheet TM Manufacture Balance Sheet (partia Choose trom any list or enter any number in the input fneids and then continue to the next question Requirement 2. Show how TM Manufacture will report Accounts Receivable on its December 31, 2020, balance sheet. TM Manufacture Balance Sheet (partial) December 31, 2020 Accounts receivable, net Requirement 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $1,600 debit bala Choose from any list or enter any number in the input fields and then continue to the next question. 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a S$1,600 debi balance. Cakculate the amount of the adjunsing entry Requirement 3. Suppose al the facts of this situation are the same except that Allowance for Doubtlul Accounts has a $1,600 debit balance. Cakulate the amount of the adjusting entry Allowance for Doubtful Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Unadjusted balance Choose fromn any list or enter any number in the input fields and then continue to the next question Required 1. Journalize the adjusting entry for doubtful accounts based on the agin 2. Show how TM Manufacture will report Accounts Receivable on its De 3. Suppose all the facts of this situation are the same except that Allowa Allowance for Doubtful Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Unadjusted balance Adjusting entry amount Choose from any list or enter any number in the input fields and ther alance of TM Manufacture is $358,000. The Allowance for Doubtful Accounts has a(n) $8,900 credit balance. Accountants for T ants ba O Aging Schedule -X Rece me exc Age of Accounts Receivable 1-30 31-60 61-90 Over 90 Days Days Days Days Total Accounts Receivable $158.000 $94.000 S76,000 $30,000 $358, 000 Estimated percent uncollectible 1.5% 3.0% 12.0% 55.0% Allowance Needed Print Done

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Credit Balance needed Answer Calculation 1 30 2370 158000 x 15 31 60 2... View the full answer