Exercise 7-7 Aging of receivables method LO P3 Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Days Past Due Total $599,000 Accounts receivable Percent uncollectible @ $400, eee 2% 1 to 30 $94,800 3% 31 to 60 $40,000 6% 61 to 9e $22, eee Over 90 $34,00 11% a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4.000 credit c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $500 debit. Complete this question by entering your answers in the tabs below. Rega Reg B and C Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Receivable Percent Uncollectible (%) Not due: 1 to 30 31 to 60: 81 to 90: ### Over 90 X Estimated balance of allowance for uncollectibles REGA Req B and C > Complete this question by entering your answers in the tabs below. Req A Reg B and C Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4,000 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $500 debit. Show less View transaction list Journal entry worksheet 2 > Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $4,000 credit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31