Question
ABC Company had the following aging schedule of Accounts Receivable: As a result of the aging schedule, the amount of the adjusting entry to record
ABC Company had the following aging schedule of Accounts Receivable:
As a result of the aging schedule, the amount of the adjusting entry to record the bad debts expense recorded by the company was $5,873 knowing that the allowance for doubtful accounts had a debit balance of $1,500.
Compute the missing amounts of the aging schedule:
Letter A amount is: *
a-$3,000
b-$5,000
c-$6,000
d-$8,000
e-None of the above
Letter B amount is: *
a-$4,200
b-$6,200
c-$7,200
d-$9,200
e-None of the above
Letter C amount is: *
a-$2,100
b-$3,134
c-$4,552
d-$5,100
e-None of the above
Letter D amount is: *
a-$600
b-$6,600
c-$6,900
d-$7,500
e-None of the above
Letter E amount is: *
a-$800
b-$2,000
c-$2,800
d-$4,800
e-None of the above
Letter F amount is: *
a-$6,900
b-$9,900
c-$10,500
d-$14,300
e-None of the above
Letter G amount is: *
a-$1,800
b-$7,800
c-$8,100
d-$8,700
e-None of the above
Letter H amount is: *
a-$700
b-$800
c-$7,000
d-$8,000
e-None of the above
Number of Days Past Due Customer Name Not Yet Due 1-30 31-60 61-90 Over 90 Total Lana $1,200 A B Mark $800 $3,200 6,000 Iyad D 1,300 E F Total G H 4,300 I J 17,100 Estimated % 1% 5% K 35% L Estimated Bad Debt 18 M 645 N O P
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