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DoubeFdl 4. Kiley Company had a $900 credit balance in A11owance for curzent year's provision Accounts at December 31, 2005, before the for uncollectible accounts.
DoubeFdl 4. Kiley Company had a $900 credit balance in A11owance for curzent year's provision Accounts at December 31, 2005, before the for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due over 90 days past due $120,000 12,000 10, 000 5, 000 , 6% 12 30 Total Accounts Receivable $155,000 INSTRUCTIONS (a) Prepare the adjusting entry on December 31, 200s, to recognize bad debts expense. (b) Asgume the eame facts as above except that the Allowance for Doubtful Accounts account had a $700 debit balance before the current year's provision for, uncollectible accounts. Prepare the adjueting entay for the current year's provision for uncollectible accounts. (c) Journalize the following: 1. On April 30, 2005 a $2,500 customer balance was judged uncollectible 2. On June 30, 2005 a $1,000 check is received from the customer whose account wa deemed uncollectible on April 30th
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