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eBook 34 Show Me How Calculator Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year. Accounts Proportion Expected
eBook 34 Show Me How Calculator Glencoe Supply had the following accounts receivable aging schedule at the end of a recent year. Accounts Proportion Expected Allowance Receivable Age Amount to Default Required Current $310,500 0.005 $1,553 1-30 days past due 47,500 0.01 475 31-45 days past due 25,000 0.13 3,250 46-90 days past due 12,800 0.20 2,560 91-135 days past due 6,100 0.25 1,525 Over 135 days past due 2.520 4,200 $11,883 The balance in Glencoe's allowance for doubtful accounts at the beginning of the year was $47,960 (credit). Durin Required: 1. Determine bad debt expense. $ 11,883 X Feedback Check My Work 1. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts 2. Prepare the journal entry to record bad debt expense. Bad Debt Expense 11,883 x Allowance for Doubtful Accounts 11,883 X Record adjusting entry for bad debt expense estimate Feedback Check My Work 2. The aging method attempts to estimate the ending balance in the Allowance for Doubtful Accounts 3. If Glencoe had written off $78,000 of receivables as uncollectible during the year, how much would bad debt expe $ 15,663 X Ohtly more Check My Work uses remaining of a recent year. lowance equired $1,553 475 3,250 2,560 1,525 2,520 $11,883 ne year was $47,960 (credit). During the year, accounts in the total amount of $51,232 were written off Doubtful Accounts for Doubtful Accounts the year, how much would bad debt expense reported on the income statement have changed
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