Lui Dental began operations in January 2023 selling dental appliances to dentists. The following transactions occurred during

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Lui Dental began operations in January 2023 selling dental appliances to dentists. The following transactions occurred during the first 6 months of operations:image



Required


1. Complete the following aged listing of customer accounts as of June 30, 2023:image


2. Estimate the Allowance for Doubtful Accounts required at June 30, 2023, assuming the following uncollectible rates: 30 days, 2%; 60 days, 5%; 90 days, 15%; 7 90 days, 50%.


3. Show how Lui Dental would report its accounts receivable on its June 30, 2023, balance sheet.


4. If Dr. Evans’s account needed to be written off in September 2023, how accurate is Lui Dental at estimating its bad debts?

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Related Book For  book-img-for-question

Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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