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At December 31, 2018, the Accounts Receivable balance of Digital Cable Company is $220,000. The Allowance for Bad Debts account has a $8,310 debit balance.
At December 31, 2018, the Accounts Receivable balance of Digital Cable Company is $220,000. The Allowance for Bad Debts account has a $8,310 debit balance. Digital Cable Company prepares the following aging schedule for its accounts receivable (Click the icon to view the aging schedule.) i Data Table Show the T-account for the Allowance for Bad Debts at Age of Accounts $ Over 90 Days 5.000 Accounts Receivable Estimated percent uncollectible 1.30 Days 31-60 Days 80.000 $ 85000 07 4 0 61.90 Days $ 50,000 705 470 0 Requirements 1. Journalize the year and adjusting entry for bad debts on the basis of the aging schedule Show the T-account for the Allowance for Bad Debts at December 31, 2018 2. Show how Digital Cable Company will report its net accounts receivable on its December 31, 2018. balance sheet xt
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