The Brawn Company had a $400 credit balance in Allowance for Doubtful Accounts at December 31, 2007,
Question:
Instructions
a) Prepare the Estimated Uncollectible schedule for each percentage.
b) Prepare the adjusting entry on December 31, 2007, to recognize bad debts expense.
Transcribed Image Text:
Estimated Percentage Uncollectible Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable $140,000 1% 3% 12,000 12% 5,000 7,000 $179,000 30%
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a b Current Accounts 130 days past due 3160 days pas...View the full answer
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Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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