At the end of Year 5. your consulung firm has been hired by a local service firm to help forecast future uncollectible accounts. You ask the service firm to provide several years of data on the percentage of uncollectible accounts based on the age categories of accounts receivable at the beginning of the year. With these historical percentages, you estimate a trend line (dashed linej to predict the percentage of uncollectible accounts for Year 6, the upcoming year. Graphs were provided to management from your analysis of each of the three age categories, as well as balances of accounts receivable by age category at the end of Year 5 as follows: Percentage of Uncollectible Accounts: Not Yet Past Due 1-30 Days Past Due Over 30 Days Past Due 8% 18% 46 6% 161 69 16 44 144 155 24 2010 12 421 BE 06 4 O. ar 2 Year 2 15 6 Year 2 Accounts Receivable by Age: End of Year 5 3700 . GALLE $40,000 $35.000 $20,000 SO Not Yet Pas De 130 Days Pas Due Over 30 Days Past Due Click here to open the graphis in a new tab. Required: 1. Which age categories predicts the lowest percentage of uncollectible accounts for Year 6? 2. Which age categories predicts the highest percentage of uncollectible accounts for Year 6? 3. What is the dollar amount of accounts receivable that are 1-30 days past due at the end of year 5 (bottom graphi? 4. Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint Use all three age categories)? 5. Assume the balance of Allowance for Uncollectible Accounts is $4.850 (credit) at the end of Year 5 (before any adjustment Prepare the adjusting entry at the end of Year 5. 6. Determine the amount of net accounts receivable the company would report at the end of Year 5. Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Required Required 5 Required Which age categories predicts the lowest percentage of uncollectible accounts for Year 67 Not yet past due 11-30 days pas due Over 30 days past due Required 2 > $20 DOO $35,000 so Not Yet Pas De Click here to open the graphsun a new tab. 12 Days Pas Due Over 20 Days Pare Required: 1. Which age categories predicts the lowest percentage of uncollectible accounts for Year 6? 2 Which age categories predicts the highest percentage of uncollectible accounts for Year 6? 3. What is the dollar amount of accounts receivable that are 1-30 days past due at the end of year 5 (bottom graphi? 4. Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint Use all three age categories? 5. Assume the balance of Allowance for Uncollectible Accounts is $4.850 (credit) at the end of Year 5 (before any adjustment). Prepare the adjusting entry at the end of Year 5. 6. Determine the amount of net accounts receivable the company would report at the end of Year 5. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Required 5 Required Which age categories predicts the highest percentage of uncollectible accounts for Year 6? Not yet past due 1-30 days pasi due Over 30 days past due Required 1 Required 3 > WA Vagov Home Vete... S The $100,00 S80 DOO 564,000 560.000 $40.000 10 $20,000 50 1 bu Over 20 Days Click here to open the graphs in a new tab, Required: 1. Which age categories predicts the lowest percentage of uncollectible accounts for Year 6? 2 Which age categories predicts the highest percentage of uncollectible accounts for Year 6? 3. What is the dollar amount of accounts receivable that are 1-30 days past due at the end of year 5 (bottom graphi? 4. Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint Use all three age categories? 5. Assume the balance of Allowance for Uncollectible Accounts is $4.850 (credit) at the end of Year 5 before any adjustment). Prepare the adjusting entry at the end of Year 5. 6. Determine the amount of net accounts receivable the company would report at the end of Year 5. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required Required Required 6 What is the dollar amount of accounts receivable that are 1-30 days past due at the end of year 5 (bottom graph)? Accounts Receivable 350,000 $40,000 $20,000 $35,000 SO Nor Yet Past 1 80 Days Pas Due Click here to open the graphs in a new tab. Over Ders Past Du Required: 1. Which age categories predicts the lowest percentage of uncollectible accounts for Year 6? 2 Which age categories predicts the highest percentage of uncollectible accounts for Year 6? 3. What is the dollar amount of accounts receivable that are 1-30 days past due the end of year 5 (bottom graphi? 4. Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint Use all three age categories)? 5. Assume the balance of Allowance for Uncollectible Accounts is $4.850 (credit ) at the end of Year 5 (before any adjustment). Prepare the adjusting entry at the end of Year 5. 6. Determine the amount of net accounts receivable the company would report at the end of Year 5. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 5 Required & Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint: Use all three age categories)? Estimated Uncollectible Accounts $40.000 $20.000 50 $35.000 No Yer Pasta Click here to open the graphs in a new tab. 1-30 Days Due Orarse Required: 1. Which age categories predicts the lowest percentage of uncollectible accounts for Year 6? 2 Which age categories predicts the highest percentage of uncollectible accounts for Year 6? 3. What is the dollar amount of accounts receivable that are 1-30 days past due at the end of year 5 (bottom graphi? 4. Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint Use all three age categories)? 5. Assume the balance of Allowance for Uncollectible Accounts is $4.850 (credit, at the end of Year 5 before any adjustment. Prepare the adjusting entry at the end of Year 5. 6. Determine the amount of net accounts receivable the company would report at the end of Year 5. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required Required 6 Assume the balance of Allowance for Uncollectible Accounts - $4,850 (credit) at the end of Year 5 (before any adjustment). Prepare the adjusting entry at the end of Year 5. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction at Journal entry worksheet Record the adjustment to the allowance for uncollectible accounts. SO Not Yet Past Due Click here to open the graphis) In a new tab. 1 30 Days Pas Due Over 30 Days Past Due Required: 1. Which age categories predicts the lowest percentage of uncollectible accounts for Year 6? 2 Which age categories predicts the highest percentage of uncollectible accounts for Year 6? 3. What is the dollar amount of accounts receivable that are 1-30 days past due at the end of year 5 (bottom graphi? 4. Calculate the total amount of estimated uncollectible accounts for Year 6 (Hint Use all three age categories)? 5. Assume the balance of Allowance for Uncollectible Accounts is $4,850 (credit) at the end of Year 5 (before any adjustment) the adjusting entry at the end of Year 5. 6. Determine the amount of net accounts receivable the company would report at the end of Year 5. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Determine the amount of net accounts receivable the company would report at the end of Year 5. Net Accounts Receivable