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Daley Company prepared the following aging of receivables analysis at December 31 . a. Estimate the balance of the Allowance for Doubtfut Accounts assuming the

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Daley Company prepared the following aging of receivables analysis at December 31 . a. Estimate the balance of the Allowance for Doubtfut Accounts assuming the company uses 5% of totat accounts receivable to estimate uncollectibles, instead of the aging of recelvables 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 Doubtiul Accounts is a $13.100 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 Doubtul Accounts is a $2.100 debit Complete this question by entering your answers in the tobs below. Fitimate the balance of the Allowance for Doubtful Accounts ansuming the conipany uses 5% of total accounts receivable to Estimate uncollectibles, instead of the aging of recelvables method. Estimated balance of allowance for uncollectibles Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $13,100 credit balance. Note: Enter debits before credits. Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $2,100 debit balance. Note: Enter debits before credits

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