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can you help pls The Berra Company uses the aging of accounts receivable method to estimate Bad Debt Expense. The balance of each account receivable
can you help pls
The Berra Company uses the aging of accounts receivable method to estimate Bad Debt Expense. The balance of each account receivable is aged on the basis of three categories as follows: (1) 1 to 30 days old, (2) 31 to 90 days 5 old, and (3) more than 90 days old. Based on experience, management has estimated what portion of receivables of a specific age will not be paid as follows: (1) 1%, (2) 15\%, and (3) 40%, respectively. The total Accounts Receivable in each age category are shown below: As of December 15 the unadjusted credit balance in the Allowance for Doubtful Accounts was $2000. A Build an AGING SCHEDULE table and establish the Total Allowance for Bad debt needed. B Write the journal entry required to record the full allowance for bad debt needed Step by Step Solution
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