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Exercise 7-16 (Algo) Aging of Receivables Schedule LO P3 Following is a list of credit customers along with their amounts owed and the days past

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Exercise 7-16 (Algo) Aging of Receivables Schedule LO P3 Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five classifications of accounts receivable and estimated bad debts percent for each class. Days Past Due 1 to 30 31 to 60 61 to 90 Over 90 Percent uncollectible 19 34 5% 84 12% Accounts Customer Receivable Days Past Due BCC Company $ 5,400 11 Lannister Company 2,400 Mike Properties 6,400 106 Ted Reeves 1,200 80 Jen Steffens 3,400 42 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $240, record the required adjustment to the Allowance for Doubtful Accounts Complete this question by entering your answers in the tabs below. Required 1 Required 2 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. Estimated balance for Allowance for Doubtful Accounts Required Required 2 > Journal entry worksheet Assuming an unadjusted credit balance of $240, record the required adjustment to the Allowance for Doubtful Accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal

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