Question: ! Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days

 ! Required information [The following information applies to the questions displayed

below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 0 31 to 60 $ 56,000 Accounts receivable Percent uncollectible 1 to 30 $ 110,000 4% $ 670,000 $

! Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 0 31 to 60 $ 56,000 Accounts receivable Percent uncollectible 1 to 30 $ 110,000 4% $ 670,000 $ 416,000 3% 61 to 90 $ 38,000 9% Over 90 $50,000 12% 7% a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,600 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,100 debit. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Receivable Percent Uncollectible (%) Estimated Uncollectible Not due: X 1 to 30: x 31 to 60: X 61 to 90: Over 90: Estimated balance of allowance for uncollectibles 0 Req B and C > II II II 11 =

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