Question: HELLPP! Exercise 7-15 (Algo) Calculate uncollectible occounts using the aging method; record adjustments [LO7. 5,76] Zuo Software categorizes its accounts recelvable into four age groups
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Exercise 7-15 (Algo) Calculate uncollectible occounts using the aging method; record adjustments [LO7. 5,76] Zuo Software categorizes its accounts recelvable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due =$385,000; estimated uncollectible =15% 2. Accounts 130 days past due =$48.200, estimated uncollectible =18% 3. Accounts 31-90 days past due =$38,500, estimated uncollectible =22% 4. Accounts more than 90 days past due =$28,800; estimated uncollectible =25%. At 12/31/2024, before recording any adjustments, Zuo has a credit balance of $25,300 in its allowance for uncollectible accounts Required: 1. Estimate the appropriate 12/31/2024 batance for Zuo's allowance for uncollectible accounts 2. What joumal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2024 net accounts receivable balance. Complete this question by entering your answers in the tabw betow. Required: 1. Estimate the appropriate 12/31/2024 balance for Zuo's allowance for uncollectible accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2024 net accounts receivable balance Complete this question by entering your answers in the tabs below. Estimate the appropriate 12/31/2024 balance for Zuo's allowance for uncollectible accounts. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? lote: If no entry is required for a transaction/event, select. "No journal entry required" in the first account field. Journal entry worksheet Record the adjustment to allowance for uncollectible accounts. Note: Enter debits before credits. Required: 1. Estimate the appropriate 12/31/2024 balance for Zuo's allowance for uncollectible accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2024 net accounts receivable balance. Complete this question by entering your answers in the tabs below. Calculate Zuo's 12/31/2024 net accounts receivable balance
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