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Aging of Recaivables, Estimating Allowance for Doubtrul Accorants Wig Creotions Company supplies wigs and halr care products to beauty salons throughout Texas and the Southwest.

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Aging of Recaivables, Estimating Allowance for Doubtrul Accorants Wig Creotions Company supplies wigs and halr care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partialy compieted aging of receivobles schedule as of the end of business of December 31 , 20Y1: The followirg accounts were unintentionally omitted from the aging sthedules Wig Creations has a past history of uncollectible accounts by age categary, as follown: Wig Creations has a past history of uncollectible accounts by age category, as follows: 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. 2. Complete the aging of recelvables schedule by adding the omitted accounts to the bottom of the schedule and updating the totais. If an amount box does not require an entry, leave it blank. 3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule. $ 4. Assume that the aliowance for doubtful accounts for Wig Creations has a credit balance of $1,460 before adyustment co December 31 , 20y1. Journalize the adjustment for uncollectible accounts. If an amount box does not require an entry, leave it blank

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