Question: Question 3 (15%) Related information about receivables is given below End of the period balances: Accounts Receivable 75,000-debit balance Allowance for Doubtful Accounts 5,000-debit balance

Question 3 (15%) Related information about receivables is given below End of the period balances: Accounts Receivable 75,000-debit balance Allowance for Doubtful Accounts 5,000-debit balance Aging schedule Customer X Y Z Total Estimated Percentage uncollectible Total Estimated Bad Debts Not Yet Due ? Total 1-30 50,000 10,000 10,000 15,000 10,000 75,000 Number of Days Past Due 5,000 5,000 5,000 4% 31-60 61-90 Over 90 25,000 5,000 10,000 15,000 15,000 5,000 25,000 15,000 8% ? 10% ? 12% ? Required: (a) calculate missing values on the aging schedule. (5%) (b) Journalize adjusting entry for receivables (10%) 60%

Question 3 (15\%) Related information about receivables is given below End of the period balances: Accounts Receivable 75,000-debit balance Allowance for Doubtful Accounts 5,000-debit balance Aging schedule Required: (a) calculate missing values on the aging schedule. (5\%) (b) Journalize adjusting entry for receivables (10\%) Question 3 (15\%) Related information about receivables is given below End of the period balances: Accounts Receivable 75,000-debit balance Allowance for Doubtful Accounts 5,000-debit balance Aging schedule Required: (a) calculate missing values on the aging schedule. (5\%) (b) Journalize adjusting entry for receivables (10\%)

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