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An aging analysis of Crane Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Outstanding Estimated %
An aging analysis of Crane Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Outstanding Estimated % Uncollectible 2021 2020 (0-30 days 3% $98.000 $120.000 31-60 tavs 6% 24 500 60.000 61-9days 49.000 36.000 venta 73.500 24,000 Tinta 5245.000 $240.000 1 At December 11, 2020 the adjusted balance in Allowance for Doubtful Accounts was a credit of 52.300 In 2021 525 300 of accounts was off as uncollectible and $2.200 of accounts previously we colected Question 1 of 2 > -720 II! Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2020, and at December 31, 2021. 2020 Number of Days Outstanding Estimated Uncollectible Amount % 0-30 days $120,000 3% $ 31-60 days 60.000 6% 61-90 days 36.000 14% Over 90 days 24.000 40% Total $240.000 $ 2021 Number of Days Outstanding Estimated Uncollectible Amount %6 0-30 days $98,000 3% 31-60 days 24,500 6% 61-90 days 49,000 14% Over 90 days 73,500 40% Total $245.000 e Textbook and Media List of Accounts 6C Cloudy Calculate the carrying amount of Crane's accounts receivable at December 31, 2020, and December 31, 2021 2020 2021 Carrying amount $ $ e Textbook and Media List of Accounts Record the following: 1. The adjusting entry on December 31, 2020, 2 The write off of uncollectible accounts in 2021, 3. The collection in 2021 of accounts previously written off. 4 The adjusting entry on December 31, 2021. Account Titles and Explanation Debit Credit 1. (To record estimate of uncollectible accounts.) 2. (To record writeoff of accounts receivable.) 3. (To reverse write off.) (To record collection of previously written-off accounts.) GC Cloudy (To record estimate of uncollectible accounts.) e Textbook and Media List of Accounts Attempts: 0 of 3 used Submit Answer 6C Cloudy
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