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(5 points, 7 minutes) TriStar Company shows the following groups for aging of the accounts receivable: a. Not yet due. $250,000 b. 1-30 days past
(5 points, 7 minutes) TriStar Company shows the following groups for aging of the accounts receivable: a. Not yet due. $250,000 b. 1-30 days past due 110,000 C. 31-60 days past due 85,000 On the basis of past experience, the company estimated the percentages probably uncollectible for the above five age groups to be as follows: Group a, 2%; Group b, 5%; Group c, 12%; Group d, 18%; and Group e, 40%. The Allowance for Doubtful Accounts before adjustment at December 31 showed a credit balance of $13,500. a. Compute the estimated amount of uncollectible accounts for Group a (1 point) Group b (1 point) Group c (1 point) b. Prepare the adjusting entry needed to bring the Allowance for Doubtful Accounts to the proper amount. (2 points) Account title Dr Cr
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