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Exercise 9-10 Aging of receivables schedule P3 Following is a list of credit customers along with their amounts owed and the days past due at
Exercise 9-10 Aging of receivables schedule P3 Following is a list of credit customers along with their amounts owed and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class 1. Create an aging of accounts receivable schedule similar to Exhibit 9.8 and calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $100, record the required adjustment to the Allowance for Doubtful Accounts. BCC Company Lannister Co. Mike Properties Ted Reeves Jen Steffens Accounts Recelvable $4.000 1,000 5,000 Days Past Due 12 0 107 72 35 500 2,000 Days Past Due 1 to 30 31 to 60 61 to 90 Over 90 Percent uncollectible... 5% 8% 12%
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