Question: Can someone answer this for me please !? asap Thank you! Far Out Fabricators uses the balance sheet approach to estimate uncollectible receivables. The aging

Far Out Fabricators uses the balance sheet approach to estimate uncollectible receivables. The aging of receivablas on December 31, 2018 is shown in part a). Required a Calcate the required allowance for doubtful accounts. Do not enter allar signs or commas in the input boxes. Round all answers to the nearest whole number Aging Catr gory Bad Debt % Balance Required Allowance Under 30 days 1.0% $218,000 $ 31-60 days 4.0% $41,000 $ 30.0% 61 - 90 days $ $16,000 50.0% More than 90 days $ $5,000 S $280,000 Total b) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $2,200 credit balance. Date Account Title and Explanation Debit Credit Dec 31 e To record estimated bad debt for the year c) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account b) Prepare the joumal entry on December 31, 2018 to record bad debt expense assuming the allowance account has $2,200 credit balance. De Account Title and Explanation Debit Credit Des 31 To record estimated bad debt for the year c) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $21,000 credit balance. Date Account Title and Explanation Debit Credit Dec 31 To record estimated bad debt for the year d) Prepare the journal entry on December 31, 2018 to record bad debt expense assuming the allowance account has a $1,300 debit balance. Date Account Title and Explanation Debit Credit Dec 31 To record estimated bad debt for the year
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