Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 31...
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Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 31 to 60 $ 55,000 68 Accounts receivable Percent uncollectible Total 0 $ 665,000 $ 415,000 Not due: 1 to 30: 31 to 60: a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Complete this question by entering your answers in the tabs below. Accounts Receivable b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,500 credit. X 28 c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,000 debit. X 1 to 30 $ 109,000 Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Percent Uncollectible (%) = 38 = 61 to 90 $ 37,000 8% Over 90 $ 49,000 118 Estimated Uncollectible Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 31 to 60 $ 55,000 68 Accounts receivable Percent uncollectible Total 0 $ 665,000 $ 415,000 Not due: 1 to 30: 31 to 60: a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Complete this question by entering your answers in the tabs below. Accounts Receivable b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,500 credit. X 28 c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,000 debit. X 1 to 30 $ 109,000 Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Percent Uncollectible (%) = 38 = 61 to 90 $ 37,000 8% Over 90 $ 49,000 118 Estimated Uncollectible
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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