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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
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. 1% 1 to 30 3% Days Past Due 31 to 60 5% 61 to 90 8% Over 90 12% Percent uncollectible Customer BCC Company Lannister Company Accounts Receivable Days Past Due Mike Properties Ted Reeves Jen Steffens $ 4,400 1,400 5,400 700 2,400 12 114 71 39 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 $140, 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 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 1 Required 2 > View transaction list Journal entry worksheet < 1 Assuming an unadjusted credit balance of $140, record the required adjustment to the Allowance for Doubtful Accounts. Note: Enter debits before credits. Date December 31 General Journali Debit Credit Record entry Clear entry View general journal
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