Question: Please answer I need help! I will thumbs up:) IE Exercise 7.14 (Static): Aging of receivables method LO P3 Daley Company prepared the following aging


IE Exercise 7.14 (Static): Aging of receivables method LO P3 Daley Company prepared the following aging of receivables analysis at December 31 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts recelvable. b. Prepare the adjusting entry to record bad dobts expense using the estimate from part a. Assume the unodjusted balance in the Allowance for Doubtful Accounts is a $3,600 credit, c. Prepare the odjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $100 debit. Navigation: 1. Use the Open Excel in New Tab button to lounch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. - X fr Accessibility tab summary: A table with aging analysis for Daley Company is presented in cells A2 to G6. A statement for Daley Company prepared the following aging of receivables analysis at December 31. a. Calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Estimated balance of allowance for uncollectibles b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubttul Accounts is a $3,600 credit. A1 3 Accounts payable 4 Accounts receivable 5. Allowance for doubtful accounts 6 Bad debts expense 7. Cash 8 Cost of goods sold 9 Credit card expense 10 Delivery expense 11 Factoring fee expense 12. Interest receivable 13 Interest revenue 14 Merchandise inventory 15. Notes payable 16 Notes recelvable 17 Prepaid insurance 18. Purchases 19 Purchases discounts 20. Sales 21 Sales discounts 22 Sales returns and allowances 23. Transportation in Graded Worksheet B Chart of Accounts
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