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accounting question Analysis of accounts receivable at March 31 shows the following: 0 Month of Credit sale (Balance, March 31) March ($30,000) Feb. ($20,000) January

accounting question

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Analysis of accounts receivable at March 31 shows the following: 0 Month of Credit sale (Balance, March 31) March ($30,000) Feb. ($20,000) January ($10,000) Prior to January ($3,000) At March 31, Allowance for Doubtful Accounts has a credit balance of 5 1,500 prior to adjustment- The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is as follows: 0 Estimated % Uncollecble 1-30 days (2%) 3160 days (5%) 61-90 days (10%) Over 90 days (20%) a) Determine the total estimated uncollectibles. (5 points) b) Prepare the adjusting entry at March 31 to record bad debts expense. (3 points)

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