age 2: Question 10 (4 points) Suppose the Federal Reserve has been maintaining a federal funds rate target of 4% for the past six months. Now the latest economic data is showing a slow down in the nation's economic activity, with a significant increase in the unemployment rate. In response, the Federal Reserve will 2 age 3 change its federal funds rate target and use dynamic open market operations to meet it. 3 sell drugs. age 4: use fiscal policy to boost aggregate demand. 1 oge 5 change its federal funds rate target and use general equilibrium open market operations to meet it. 5 change its federal funds rate target and use defensive open market operations to meet it Previous Page Next Page Page 10 of 29 10 tv A W 888 ga CD % QS 7-9 Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis, Days Past Due Total 1 to 30 31 to 60 61 to 99 Over 90 Accounts receivable $115,200 $80,000 $18,888 $7,200 $4,000 $6,000 Percent uncollectible 54 8 114 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit aces Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Percent receivable uncollectibles Not due 110 30 x 31 to 50 61 to 90 Over 90 Estimated balance of allowance for uncollectibles X x atv A 80 888 A & 02 8 0 3 5 2 4 6 n age 2: Question 10 (4 points) Suppose the Federal Reserve has been maintaining a federal funds rate target of 4% for the past six months. Now the latest economic data is showing a slow down in the nation's economic activity, with a significant increase in the unemployment rate. In response, the Federal Reserve will 2 age 3 change its federal funds rate target and use dynamic open market operations to meet it. 3 sell drugs. age 4: use fiscal policy to boost aggregate demand. 1 oge 5 change its federal funds rate target and use general equilibrium open market operations to meet it. 5 change its federal funds rate target and use defensive open market operations to meet it Previous Page Next Page Page 10 of 29 10 tv A W 888 ga CD % QS 7-9 Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis, Days Past Due Total 1 to 30 31 to 60 61 to 99 Over 90 Accounts receivable $115,200 $80,000 $18,888 $7,200 $4,000 $6,000 Percent uncollectible 54 8 114 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit aces Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Percent receivable uncollectibles Not due 110 30 x 31 to 50 61 to 90 Over 90 Estimated balance of allowance for uncollectibles X x atv A 80 888 A & 02 8 0 3 5 2 4 6 n
