Unit 2 Assignment Q9 a&b-d

Question 9 of 10 -75 View Policies Current Attempt in Progress Metlock Inc. uses the allowance method to estimate uncollectibles. The company produced the following aging of the accounts receivable at year-end. (a) Calculate the total estimated uncollectibles based on the below information. Total 31-60 $252.300 0-30 590,500 2% Accounts receivable Suncollectible $56,000 596 Estimated Bad debts S $ $ eTextbook and Media List of Accounts Save for later Attempts: 0 of 5 used Submit Answer Question 9 of 10 4/5 E View Policies Current Attempt In Progress Metlock Inc uses the allowance method to estimate uncollectibles. The company produced the following aging of the accounts receivable at year-end. (a) Calculate the total estimated uncollectibles based on the below information Number of Days Outstanding 31-60 61-90 91-120 Over 120 $56,000 $48.000 $32,600 $25,200 596 696 996 219 eTextbook and Media List of Accounts Sve forte Attempts:0 of 5 used Subalt Answer (bud (b) Prepare the year-end adjusting journal entry to record the Bad Debt Expense using the aged uncollectible accounts receivable determined in (a). Assume the unadjusted balance in Allowance for Doubtful Accounts is a $8.500 debit la Of the above accounts, $4.500 is determined to be specifically uncollectible Prepare the journal entry to write off the uncollectible account (d) The company collects $4.500 subsequently on a specific account that had previously been determined to be uncollectible in(c). Prepare the journal entries necessary to restore the account and record the cash collection (Credit account titles are automatically indented when amount is entered. Do not indent manually) No Account Titles and Explanation Debit Credit (b) (d (d) To reverse write-oft) (To record collection of write oft) eTextbook and Media List of Accounts Sasto Attempts: 0 of 5 used Submit Antwer