An analysis of the accounts receivable of Matsushita Company as of December 31, 20--, reveals the following:

Question:

Estimated Percent Uncollectible 1.5% Balance Age Interval Not yet due 1-30 days past due 31-60 days past due 61-90 days

REQUIRED
1. Prepare an aging schedule as of December 31, 20--, by adding the following column to the three columns shown above: Estimated Amount Uncollectible.
2. Assuming that Allowance for Bad Debts had a credit balance of $1,750 before adjustment, record the end-of-period adjusting entry in general journal form to enter the estimate for uncollectibleaccounts.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Aging Schedule
Aging schedule is an accounting table that shows a company’s account receivables. It is an summarized presentation of accounts receivable into a separate time brackets that the rank received based upon the days due or the days past due. Generally...