Question: the second part in red CALCULATOR PRINTER VERSION BACK NET Exercise 1-06-b Pharoah Company has accounts receivable of $99,700 at March 31, 2022. Credit terms
CALCULATOR PRINTER VERSION BACK NET Exercise 1-06-b Pharoah Company has accounts receivable of $99,700 at March 31, 2022. Credit terms are 2/10, 1/30. AL March 31, 2022, there is a $2,045 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Age of Accounts 2022 2021 Uncollectible Current $68,400 $70,460 2% 1-30 days past due 12.900 8,130 5 31-90 days past due 9.200 2,330 Over 90 days past due 8,200 47 $98,700 $82,100 Your answer is correct. Determine the total estimated uncollectibles at March 31, 2022 Total estimated uncollectibles 8535 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINE TO VIDED Your answer is incorrect. Try again. Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. De not indent manually) Account Titles and Explanation Debit Credit Click if you would like to show Work for this question: Den Show Work AR A wl P MacBook Air
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
