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Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total $580,000

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Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total $580,000 Accounts receivable Percent uncollectible 0 $398,000 1 to 30 $92,000 31 to 60 61 to 90 $38,000 $20,000 Over 90 $32,000 12 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 $3,800 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 $300 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. Accounts Receivable Percent Uncollectible (9) Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles Req A Reg B and 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 $3,800 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 $300 debit. Show less View transaction list Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,800 credit balance. Note: Enter debits before credits Dato General Journal Debit Credit Dec 31 View transaction list Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $300 debit balance. Note: Enter debits before credits Debit Credit Date Dec 31 / TI / / / /

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