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1. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. 2. Make the adjusting entry to record Bad Debts
1. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. 2. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit and use of the aging of accounts receivables method. 3. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8.000 debit and use of the aging of accounts receivables method. 4. Based on further analysis, assume we find that the percentages in the graphic "Percent Uncollectible by Age" are too high. When alerting the manager, she responds that this is intentional. What are the income statement impacts from the overstated percentages? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Accounts receivable Percent uncollectible (%) Not yet due 1 to 301 31 to 60 61 to 901 Over 90 x X T X H x B Estimated balance of allowance for uncollectibles K Aquared Required 2 >
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