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E9-4 Lui Dental began operations in January 2020 selling dental appliances to dentists. The following transactions occurred during the first six months of operations: Jan.

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E9-4 Lui Dental began operations in January 2020 selling dental appliances to dentists. The following transactions occurred during the first six months of operations: Jan. 15 Sold appliances to Dr. Hall on account for $15,750; cost $6,400 Feb. 22 Received payment in full from Dr. Hall. Mar. 4 Sold merchandise to Dr. Evans on account for $4,400; cost $1,250. Apr. 20 Sold merchandise to Dr. Murray on account for $6,700; cost $2,990. May 31 Sold merchandise to Dr. Kim on account for $3,200; cost $1,100. Jun. 28 Received $3,000 on account from Dr. Evans. Required 1. Complete the following aged listing of customer accounts as of June 30, 2020: E F 1 B D Age of Accounts Receivable 1-30 31-60 61-90 Days Days Days WN Over 90 Days Total 2 3 4 5 6 7 Customer Dr. Evans Dr. Hall Dr. Kim Dr. Murray Totals: 3,200 3,200 2. Estimate the Allowance for Doubtful Accounts required at June 30, 2020, assuming the following uncollectible rates: 30 days, 2%; 60 days, 5%; 90 days, 15%; > 90 days, 50%. 3. Show how Lui Dental would report its accounts receivable on its June 30, 2020, balance sheet. What amounts would be reported on an income statement prepared for the six month period ended June 30, 2020? 4. If Dr. Evans's account needed to be written off in September 2020, how accurate is Lui Dental at estimating its bad debts

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