I need help filling out the following 6 part question Averys All Natural Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest The accounts receivable clerk for Averys All Natural prepared the following aging of receivables schedule as of the end of business on December 31, 20Y7 Days Past Due Customer Balance Not Past Due 130 3160 6190 91120 Over 120 AAA Beauty 27,500 27,500 Amelia's Wigs 3,750 3,750 Zims Beauty 1,650 1,650 Totals 1,100,000 750,000 180,000 75,000 45,000 22,000 28,000 Averys All Natural Company has a past history of uncollectible accounts by age category, as follows Age Class Percent Uncollectible Not past due 1 130 days past due 3 3160 days past due 7 6190 days past due 16 91120 days past due 40 Over 120 days past due 90 Instructions 1 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule 2 Assume that the allowance for doubtful accounts for Averys All Natural Company has a negative balance of $(2,250) before adjustment on December 31, 20Y7 Illustrate the effect on the accounts and financial statements of the adjustment for uncollectible accounts If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Allowance for doubtful accounts No effect No effect Retained earnings 20Y7 Dec 31 Statement of Cash Flows Income Statement No effect Bad debt expense 3 Averys All Natural Company reported credit sales of $2,400,000 during 20Y7 Assume that instead of using the analysis of receivables method of estimating uncollectible accounts, Natural Hair Company uses the percent of sales method and estimates that 2 5 of sales will be uncollectible Illustrate the effect on the accounts and financial statements of the adjustment for uncollectible accounts using the percent of sales method If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Allowance for doubtful accounts No effect No effect Retained earnings 20Y7 Dec 31 Statement of Cash Flows Income Statement No effect Bad debt expense 4 Assume that on March 4, 20Y8, Averys All Natural wrote off the $2,950 account of Superior Images as uncollectible Illustrate the effect on the accounts and financial statements of the write off of the Superior Images account If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Accounts receivable Allowance for doubtful accounts No effect No effect 20Y8 Mar 4 Statement of Cash Flows Income Statement No effect No effect 5 Assume that on August 17, 20Y8, Superior Images paid $2,950 on its account Illustrate the effect on the accounts and financial statements of reinstating and collecting the Superior Images account (a) Reinstatement If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Accounts receivable Allowance for doubtful accounts No effect No effect 20Y8 Aug 17 Statement of Cash Flows Income Statement No effect No effect (b) Collection If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Cash Accounts receivable No effect No effect 20Y8 Aug 17 Statement of Cash Flows Income Statement Operating No effect 6 Assume that instead of using the allowance method, Averys All Natural uses the direct writeoff method Illustrate the effect on the accounts and financial statements of the following a The write off of the Superior Images account on March 4, 20Y8 If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Accounts receivable No effect No effect Retained earnings 20Y8 Mar 4 Statement of Cash Flows Income Statement No effect Bad debt expense b The (1) reinstatement and (2) collection of the Superior Images account on August 17, 20Y8 (1) reinstatement If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Accounts receivable No effect No effect Retained earnings 20Y8 Aug 17 Statement of Cash Flows Income Statement No effect Bad debt expense (2) collection If no account or activity is affected, select No effect from the dropdown and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Statement of Cash Flows Balance Sheet Assets Liabilities Stockholders' Equity Cash Accounts receivable No effect No effect 20Y8 Aug 17 Statement of Cash Flows Income Statement Operating No effect

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I need help filling out the following 6 part question Averys All-Natural Company supplies wigs and hair care products to beauty salons throughout Texas and

I need help filling out the following 6 part question

Averys All-Natural Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Averys All-Natural prepared the following aging-of-receivables schedule as of the end of business on December 31, 20Y7:

				Days Past Due
Customer	Balance	Not Past Due		130	3160	6190	91120	Over 120
AAA Beauty	27,500		27,500
Amelia's Wigs	3,750				3,750
Zims Beauty	1,650			1,650
Totals	1,100,000		750,000	180,000	75,000	45,000	22,000	28,000

Averys All-Natural Company has a past history of uncollectible accounts by age category, as follows:

Age Class	Percent Uncollectible
Not past due		1	%
130 days past due		3
3160 days past due		7
6190 days past due		16
91120 days past due		40
Over 120 days past due		90

Instructions:

1. Estimate the allowance for doubtful accounts, based on the aging-of-receivables schedule.

2. Assume that the allowance for doubtful accounts for Averys All-Natural Company has a negative balance of $(2,250) before adjustment on December 31, 20Y7. Illustrate the effect on the accounts and financial statements of the adjustment for uncollectible accounts.