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1. Estimate the balance of the Allowance for Doubtful Accounts using percent of sales method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for credit sales. 2. Estimate the balance of the Allowance for Doubtful Accounts using percent of receivables method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for accounts receivable. 3. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts. Accounts Percent receivable uncollectible (%) Not yet due x 1 to 30 X 31 to 60 X 61 to 90 X Over 90 X Estimated balance of allowance for uncollectibles $ Help Save & EX Check 6 Tableau DA 9-3: Mini-Case, Aging of recelvables method and adjusting entries LO P3 The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Book Makeup of Current Assets rences Cash Accounts Receivable Inventory Supplies Accounts Receivable by Age Cash Accounts Receivable Inventory Accounts Receivable by Age Over 90 days past due 61-90 days past due 31-60 days past due 1-30 days past due Not yet due $0 $200,000 $400,000 $600,000 $800,000 Accounts Receivable (s) Percent Uncollectible by Age Makeup of Total Sales 70% Cash Sales 60% 50% 40% Estimated Percent Uncollectible 30% Credit Sales 20% 10% Percent Uncollectible by Accounts Credit Sales 196 Accounts Receivable 596 0% Not yet due 1-30 days 31-60 days 61-90 days Over 90 days past due past due past due past due 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 Required 4 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Percent receivable uncollectible %) Not yet due 1 to 30 31 to 60 61 to 90 Over 90 Estimated balance of allowance for uncollectibles $ 0 Record the estimated bad debts. Note: Enter debit before credits Transaction General Journal Debit Credit Dec 31 Prey 6 of 6 !!! Next 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. View transaction list Journal entry worksheet