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Daley Company prepared the following aging of receivables analysis at December 31. Accounts receivable Total $ 660,000 0 $ 414,000 1 to 30 $
Daley Company prepared the following aging of receivables analysis at December 31. Accounts receivable Total $ 660,000 0 $ 414,000 1 to 30 $ 108,000 Days Past Due 31 to 60 61 to 90 Over 90 $ 54,000 $ 36,000 $ 48,000 Percent uncollectible 18 29 59 76 109 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $5,400 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 $1,900 debit. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Not due: 1 to 30: 31 to 60: 61 to 90 Accounts Receivable Percent Uncollectible (%) Estimated Uncollectible x
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