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5. Help Unsaved changes Normal - Calibri . .B A. . .EE Question 4 Loma company estimates uncollectible accounts using the allowance method at December
5. Help Unsaved changes Normal - Calibri . .B A. . .EE Question 4 Loma company estimates uncollectible accounts using the allowance method at December prepared the following aging of receivables analysis Day Past Due Total Current 1 to 30 31 to 60 61 to 90 Over o Accounts receivable $110,000 68.000 17.000 10.000 .000 Percent uncollectible 18 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from parta Assume the adjusted balance in the Allowance for Doubtful Account is 150 c. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part Assume the adjusted balance in the Allowance for Doubtful Account is a $300 debit a
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