At December 31, 2020, the Accounts Receivable balance of Albert Company is $346,000 The Allowance for...

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At December 31, 2020, the Accounts Receivable balance of Albert Company is $346,000 The Allowance for Doubtful Accounts has a(n) $10,300 credit balance Accountants for Albert Company prepare the following aging schedule for its accounts receIvable (Click the icon to view the aging schedule.) Required 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule Show the Taccount for the allowance at December 31, 2020 2. Show how Albert Company will report Accounts Receivable on its December 31, 2020, balance sheet 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $900 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 Debit Credit Accounts Date Dec 31 Age of Accounts Receivable 1-30 31-60 61-90 Over 90 Days Days Days Days Total Accounts Receivable $156,000 $90,000 $70,000 $30,000 $346,000 Estimated percent uncollectible 1.0% 2.0% 7.0% 50 0% Allowance Needed 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 journalızing the adjusting entry (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Dec 31 At December 31, 2020, the Accounts Receivable balance of Albert Company is $346,000 The Allowance for Doubtful Accounts has a(n) $10,300 credit balance Accountants for Albert Company prepare the following aging schedule for its accounts receIvable (Click the icon to view the aging schedule.) Required 1. Journalize the adjusting entry for doubtful accounts based on the aging schedule Show the Taccount for the allowance at December 31, 2020 2. Show how Albert Company will report Accounts Receivable on its December 31, 2020, balance sheet 3. Suppose all the facts of this situation are the same except that Allowance for Doubtful Accounts has a $900 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 Debit Credit Accounts Date Dec 31 Age of Accounts Receivable 1-30 31-60 61-90 Over 90 Days Days Days Days Total Accounts Receivable $156,000 $90,000 $70,000 $30,000 $346,000 Estimated percent uncollectible 1.0% 2.0% 7.0% 50 0% Allowance Needed 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 journalızing the adjusting entry (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debit Credit Dec 31

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Age AR balance Uncoll Estimated uncollectible 130 days 156000 ... View the full answer