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Estimated Percentage Uncollectible Use the following information to answer Questions 31-32 Number of days outstanding Accounts Receivable 0-30 days $300.000 31-60 days $180,000 61-90 days
Estimated Percentage Uncollectible Use the following information to answer Questions 31-32 Number of days outstanding Accounts Receivable 0-30 days $300.000 31-60 days $180,000 61-90 days $150,000 over 90 days $60.000 $690.000 IOS 20% 4056 31. Assume that the Allowance for doubtful Accounts has an unadjusted Credit balance of $4,000, the journal entry to record the bad debts expense would be: Dr Cr Bad Debts Expense 584,000 Allowance for Doubtful Accounts $84.000 Bad Debts Expense S88,000 Allowance for Doubtful Accounts S88.000 Bad Debts Expense $80.000 Allowance for Doubtful Accounts $80,000 (d) Bad Debts Expense $69.000 Allowance for Doubtful Accounts $69.000 32. Assume that the Allowance for doubtful Accounts has an unadjusted temporary debit balance of $4,000, the journal entry to record the bad debts expense would be: Dr Cr Bad Debts Expense 584,000 Allowance for Doubtful Accounts $84.000 Bad Debts Expense 588.000 Allowance for Doubtful Accounts 588.000 $80,000 Bad Debts Expense Allowance for Doubtful Accounts 580,000 $69,000 Bad Debts Expense Allowance for Doubtful Accounts $69,000
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