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Aaron Servicing showed the following partial unadjusted results at October 31, 2020, Its year-end: Account Debit Sales Credit $1,600,000 Accounts receivable $144,000 Allowance for doubtful
Aaron Servicing showed the following partial unadjusted results at October 31, 2020, Its year-end: Account Debit Sales Credit $1,600,000 Accounts receivable $144,000 Allowance for doubtful accounts 3,000 Part 1 Required: a. Assuming Aaron estimates bad debts to be 1.5% of sales, prepare the adjusting entry at October 31, 2020. View transaction et Journal entry worksheet < Record the estimate for uncollectible accounts. Note: Enter debits before credits Date Oct 31, 2020 General Journal Debit Credit Record entry Clear entry View general journal b. Show how accounts receivable would be shown on the October 31, 2020, balance sheet using your calculations in (a). Assets Current assets: Partial Balance Sheet Part 2 Required: c. Instead of (a), assume that Aaron estimates bad debts to be 5% of outstanding accounts receivable. Prepare the adjusting entry at October 31, 2020 View transaction et Journal entry worksheet Record the estimate for uncollectible accounts. Seved Part 2 Required: c. Instead of (a), assume that Aaron estimates bad debts to be 5% of outstanding accounts receivable. Prepare the adjusting entry at October 31, 2020. View transaction st Journal entry worksheet Record the estimate for uncollectible accounts. Note: Enter debits before credits Date Oct 31, 2020 General Journal Debit Credit Record entry Clear entry View ganeral journal d. Show how accounts receivable would be shown on the October 31, 2020, balance sheet using your calculations in (c) Assets Current assets Partial Balance Sheet
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