Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of Days Past Due Total to 30 31 to 60 61 to Accounts receivable Percent uneollectible 575,000 $397,000 $91,000 $37,000 $19,000 $31,000 38 2% 118 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepre 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 $12,100 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 $1,100 debit Complete this question by entering your answers in the tabs below. Req AReq 8 and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles Req B and C > Days Past Due 1 to 30 31 to 60 61 to 90 over 90 $575,000 9397,000 91,000 $37,000 $19,000 $31,000 3% Accounts receivable Percent uncollectible 24 68 11% a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accou estimate uncollectibles, instead of the aging of recelvables method. nts receivable to b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjust Allowance for Doubtful Accounts is a $12,100 credit c Prepare the adjusting entry to record bad debts expense using g the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,100 debit. Complete this question by entering your answers in the tabs below | Req B and C Req A Prepare the adjusting entry to record Bad Debts expense using the estimate from part a. Assume the unadju Allowance for Doubtful Accounts is a $12,100 credit. 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 $1,100 debit. Show less View transaction list Import a new list Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $12,100 credit balance. 1 ounts Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $1,100 debit balance. 2 Prev 5 of 6Score answer>
