Question
D Question 20 5 pts The Accounts Receivable Aging Analysis for Harrison, Corp appears below. Days 1-30 Outstanding 31-60 61-90 Over 90 days days days
D Question 20 5 pts The Accounts Receivable Aging Analysis for Harrison, Corp appears below. Days 1-30 Outstanding 31-60 61-90 Over 90 days days days days Accounts 72,000 55,000 21,000 5.200 Receivable Estimated Uncollectible Percentage: 1% 1.5% 6% 11% 186 Before the year-end adjustment entry, the balance in the allowance for uncollectible accounts is $3,000 credit. Using the aging-of-receivables method, the uncollectible account expense adjusting entry amount is: 3,377 377 6,377 0 00 2,623 Craft Co. uses the percentage-of-sales method to estimate uncollectible account expense. Based on the information below, the amount of the adjusting entry to record uncollectible account expense is: Total Credit Sales: Estimated Uncollectible Percentage: Unadjusted balance in the allowance for uncollectible accounts: $123,000 1.8% $1,700 debit 514 1,700 3,914 $2,214
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