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Check my work Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past
Check my work Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due 8.33 points Total $640,000 Ito ]0 ]1 to 601 to 90 Over 90 $104,000 Accounta receivable Percent uncollectible $410,000 s50,000 $32,000 $4,000 43 73 93 eBook a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,500 debit. Hint Print References Complete this question by entering your answers in the tabs below Req A Req B and C Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method ccounts Receivable Uncollectible Not due: 1 to 30: 31 to 60: 61 to 90: Over 90 Prev 7 of 12 E Next >
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