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Aging of Accounts Receivable Stoops Industries uses the aging method to account for the allowance for doubtful accounts and makes annual adjusting entries. On January
Aging of Accounts Receivable Stoops Industries uses the aging method to account for the allowance for doubtful accounts and makes annual adjusting entries. On January 1, 2019 the allowance had a credit balance of $15,000. Below is the aging schedule as of December 31, 2019. Customer Adam's Sports Backyard Shoes Zoom Athletics All other customers Total accounts receivable Estimated uncollectible (%) Number of Days Unpaid Total 0-30 31-60 61-90 Over 90 $ 700$ 400 $ 200$ 100 2,300 $ 2,300 6,000 4,000 2,000 189,000 97,600 49,800 37,900 3,700 $ 198,000 $ 102,000 $ 52,000 $ 38,000$ 6,000 x 2% x 10% x 20% x 40% the books. Please provide Assume that uncollectible rates apply to all receivables currently the necessary journal entry to record the 2019 bad debt expense. Now instead assume that, prior to making the adjusting entry to the allowance, the Backyard Shoes receivable was determined to be uncollectible on December 31, 2019. What entries should be made on December 31, 2019
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