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Daley Company prepared the following aging of receivables analysis at December 31. Total Days Past Due 0 1 to 30 31 to 60 61 to
Daley Company prepared the following aging of receivables analysis at December 31.
| Total | Days Past Due | |||||
|---|---|---|---|---|---|---|
| 0 | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | ||
| Accounts receivable | $ 570,000 | $ 396,000 | $ 90,000 | $ 36,000 | $ 18,000 | $ 30,000 |
| Percent uncollectible | 1% | 2% | 5% | 7% | 10% |
- Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable.
- 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 $3,600 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 $100 debit.
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Facilities Managers Reference Management Planning Building Audits Estimating
Authors: Harvey H. Kaiser
1st Edition
0876291426, 978-0876291429
