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Help Save Required Information [The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,900,000 for year 2018. On December
Help Save Required Information [The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,900,000 for year 2018. On December 31, 2018, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $21,659. Jarden prepares a schedule of its December 31, 2018, accounts recevable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This Information is summarized here. December 31, 2018 Accounts Receivable $ 580,000 232,000 46,400 23, 200 4,640 Age of Expected Percent Accounts Receivable Uncollectible Not yet due 1.256 1 to 30 days past due 2.00 31 to 60 days past due 6.50 61 to 90 days past due 32.75 Over 90 days past due 68.00 2. Prepare the adjusting entry to record bad debts expense at December 31, 2018 View transaction list Journal entry worksheet Record the estimated bad debts.
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