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ezto.mheducation.com Help Saved Chapter 7 Exercises 7 Exercise 7-13 (Algo) Calculate uncollectible accounts using the aging method; record adjustment (L07-5, 7-6) 5 points Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts ch 1. Accounts not yet due $134,000, estimated uncollectible = 10% 2. Accounts 1-45 days past due = $18,600; estimated uncollectible -15% 3. Accounts more than 45 days past due $7.400; estimated uncollectible 20% Before recording any adjustments, Dhaliwal has a debit balance of $33,400 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/312021 balance for Dhaliwal's allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? PV Neferences Required 1 Required 2 Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts Balance in town ricotto accounts Required 2) Chapter 7 Exercises Saved Help Say 8 5 points Exercise 7-18 (Algo) Notes receivable [L07-7] On June 30, 2021, the Esquire Company sold some merchandise to a customer for $48,000. In payment, Esquire agreed to accept a 9% note requiring the payment of interest and principal on March 31, 2022. The 9% rate is appropriate in this situation Required: 1. Prepare journal entries to record the sale of merchandise fomit any entry that might be required for the cost of the goods sold), the December 31, 2021 interest accrual, and the March 31, 2022 collection. (Do not round intermediate calculations.) 2. If the December 31 adjusting entry for the interest accrual is not prepared by how much will income before income taxes be over-or understated in 2021 and 2022? Hint Complete this question by entering your answers in the tabs below. PE Required 1 Required 2 Dafrances Prepare foumal entries to record the sale of merchandise comit any entry that might be required for the cost of the goods sold), the December 31, 2021 interest accrual, and the March 31, 2022 collection. If no entry is required for a transaction/event, select "No Journal entry required in the first account field) View transaction ist Journal entry worksheet Record the sale of merchandise