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answer it all correctly and i will give a thumbs up! make sure to have the correct answer for them ! first few are below
answer it all correctly and i will give a thumbs up! make sure to have the correct answer for them !
Shamrock, Inc. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end Calculate the total estimated bad debts based on the information below. Number Total 0-30 31-60 $550,000 Accounts receivable $379,000 $92,000 1% 4% % uncollectible * Estimated bad debts $ List of Accounts Calculate the total estimated bad debts based on the information below. Number of Days Outstanding 31-60 61-90 $47.000 91-120 Over 120 $20,000 $12.000 $92.000 5% 8% 4% 11% 1 $ $ $ $ List of Accounts Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined above. Assume the unadjusted balance in Allowance for Doubtful Accounts is a $4,200 debit. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit List of Accounts of the above accounts, $5,500 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Account Titles and Explanation The company collects $5,500 subsequently on a specific account that had previously been determined to be uncollectible in part (c). Prepare the journal entries necessary to (1) restore the account and (2) record the cash collection (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation 1. 2. List of Accountsfirst few are below
second few that are apart of it are below
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