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doubtful accounts is estimated to be 0.75% of net credit sales. During the year, uncollectible receivables amounting to $220,000 were written off. Required a. Compute
doubtful accounts is estimated to be 0.75% of net credit sales. During the year, uncollectible receivables amounting to $220,000 were written off. Required a. Compute the ending balance in the Allowance for Doubtful Accounts at December 31. $ b. Prepare its entries (1) to write off uncollectible accounts and (2) to recognize bad debt expense. Allowance for Doubtful Accounts balance, year-end $ d. What information is available from the aging analysis in part c that is not apparent when using the percentage of credit sales approach? Percentage of receivables older than 91 days: Average balance of receivables greater than 120 days due: $ doubtful accounts is estimated to be 0.75% of net credit sales. During the year, uncollectible receivables amounting to $220,000 were written off. Required a. Compute the ending balance in the Allowance for Doubtful Accounts at December 31. $ b. Prepare its entries (1) to write off uncollectible accounts and (2) to recognize bad debt expense. Allowance for Doubtful Accounts balance, year-end $ d. What information is available from the aging analysis in part c that is not apparent when using the percentage of credit sales approach? Percentage of receivables older than 91 days: Average balance of receivables greater than 120 days due: $
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