Question: please answer it quick dont have time left The schedule of aging accounts for a Company, at the end of the year 2020, appears below
The schedule of aging accounts for a Company, at the end of the year 2020, appears below Current 1-30 days overdue 31-60 days overdue More than 60 days overdue Total Accounts Receivable $20,000 5,000 4,000 2 500 31,500 Estimate % of Bad Debts 19 5% 10% 20% The allowance was estimated by using the schedule of ageing accounts. The allowance account had a debit balance of $400, before the estimate was made Required: Prepare the adjusting ontry to record bad debts exponse for 2020 (SHOW YOUR CALCULATIONS) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B IVS Paragraph Arial I. XOQ 5 10pt 2 111 11
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