Bramble Company has accounts receivable of $116,200 at March 31, 2022. Credit terms are 2/10, n/30....

  

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Bramble Company has accounts receivable of $116,200 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $1,500 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 2022 Balance, March 31 $75,500 24,600 8,700 7,400 2021 $75,000 8,000 2,400 1,100 $116,200 $86,500 Estimated Percentage Uncollectible 2% 5% 24% 55% (a) Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles $ (a) Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles $ (b). eTextbook and Media List of Accounts Save for Later Date Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Mar. 31 Account Titles and Explanation Attempts: 0 of 2 used Debit Submit Answer Credit Bramble Company has accounts receivable of $116,200 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $1,500 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 2022 Balance, March 31 $75,500 24,600 8,700 7,400 2021 $75,000 8,000 2,400 1,100 $116,200 $86,500 Estimated Percentage Uncollectible 2% 5% 24% 55% (a) Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles $ (a) Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles $ (b). eTextbook and Media List of Accounts Save for Later Date Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Mar. 31 Account Titles and Explanation Attempts: 0 of 2 used Debit Submit Answer Credit

Answer rating: 100% (QA)

ANSWER Total Estimated uncollectibles 8362 Calculated as Age of Accounts receivable Un... View the full answer