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- / 10 Crane Company uses the allowance method to estimate uncollectible accounts receivable. The unadjusted balance in Allowance for Doubtful Accounts is a debit
- / 10 Crane Company uses the allowance method to estimate uncollectible accounts receivable. The unadjusted balance in Allowance for Doubtful Accounts is a debit of $5,000. The company produced the following information from aging its accounts receivable at year end. Complete the aging schedule and calculate the total estimated uncollectible accounts. Number of Days Outstanding Total 0-30 31-60 6 $560,000 $300,000 Accounts receivable $130,000 29 69 Estimated % uncollectible $ Estimated uncollectible accounts $ S The company produced the following information from aging its accounts receivable at year end. Complete the aging schedule and calculate the total estimated uncollectible accounts. Number of Days Outstanding 0-30 31-60 61-90 91-120 $300,000 $130,000 $90,000 $40,000 296 6% 10% 30% $ $ S - Record the bad debt adjusting entry using the information determined in part (a). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit (To record estimate of uncollectible accounts.) List of Accounts In the following year. $21.000 of the outstanding accounts receivable is determined to be uncollectible. Record the write off of teatere not indent manually. If no 41 OT 45 - / 10 In the following year. 521.000 of the outstanding accounts receivable is determined to be uncollectible. Record the write off of the uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit V To record writeoff of accounts receivable) List of Accounts Q The company collects $5,000 of the $21.000 of accounts that was determined to be uncollectible in partic. The company also 4C Sur du VueSLIUI 4101 45
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