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

Required

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

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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Jan. 15 Sold appliances to Dr. Hall on account for $15,750; cost $6,400. Feb. 22 Received payment in full from Dr. Hall. Mar. 4 Sold merchandise to Dr. Evans on account for $4,400; cost $1,250. Apr. 20 Sold merchandise to Dr. Murray on account for $6,700; cost $2,990. May 31 Sold merchandise to Dr. Kim on account for $3,200; cost $1,100. Jun. 28 Received $3,000 on account from Dr. Evans.