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Daley Company prepared the following aging of receivables analysis at December 3 1 . Required: a . Estimate the balance of the Allowance for Doubtful

Daley Company prepared the following aging of receivables analysis at December 31.
Required:
a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses (expression error)% of total accounts
receivable to estimate uncollectibles, instead of the aging of receivables 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 $12,000 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 $1,000 debit.
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