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complete the table and two journal entries with the information given. Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared
complete the table and two journal entries with the information given.
Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of recelvables analysis. $640,000 $410,000 $104,000 $50,000 $32,000$44,00 36 78 98 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. 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. unts Receivable Un ible(%) Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of all for u Req A 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. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the View transaction list Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $5,000 credit balance. Debit Credit General Journal Dec 31 Clear entry Prev 4 of 6 EE Next > View transaction list Journal entry worksheet 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $1,500 debit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry View general journal Step by Step Solution
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