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Can someone help me complete this accounting problem? Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging
Can someone help me complete this accounting problem?
Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis Days Past Due Total 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable Percent uncollectible $570,000 $396,000 $90,000 $36,000 $18,000 $30,000 2% 1% 5% 10% a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method Answer is complete and correct. Accounts receivable Percent uncollectible Not due 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles 396,000 90,000 36,000 18,000 30,00 3,960 1,800 1,800 1,260 3,000 11,820 creditStep by Step Solution
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