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Aaron Servicing showed the following partial unadjusted results at October 31, 2020, its year-end: Debit Account Sales Accounts receivable Allowance for doubtful accounts Credit $1,710,000
Aaron Servicing showed the following partial unadjusted results at October 31, 2020, its year-end: Debit Account Sales Accounts receivable Allowance for doubtful accounts Credit $1,710,000 $154,000 3,200 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 list Journal entry worksheet Record the estimate for uncollectible accounts. UC 31, ZUZU 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). Partial Balance Sheet Assets Current assets 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 list 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 ces d. Show how accounts receivable would be shown on the October 31, 2020, balance sheet using your calculations in (c). Partial Balance Sheet Assets Current assets
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