Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In Hagiwara 3. An aging analysis of Maryicocora Company's accounts receivable at December 31, 2023 and 2029, Showed the following: No. of days Outstanding
In Hagiwara 3. An aging analysis of Maryicocora Company's accounts receivable at December 31, 2023 and 2029, Showed the following: No. of days Outstanding Estimated. December 31 2023 Uncollectible 2024 61- 90 days 31-60 days 0-30 days 3% $115,000 $145,000 6% 35,000 63,000 12% $5,000 38,000 Over 90 days 25% 89,000 24.000 Total $275,000 279,000 - A Additional information: *At December 31, 2023 the unadjustable balance in Plowance for Doubtful Accounts was credit of $6,600. *In 2024 $23,500 of account was written off as uncollectible and $2,200 of accounts payable previously was collected. written off Instructions: (a) Prepare an aging schedule to calculate the estimated uncollectible accounts at Dec. 31, 2023, and at Dec 3, 2024 (b) Calculate the carrying amount of Hagiwara's accounts recleavable at December 31, 2023 and 2024 (c) Record the following: - The adjusting Entry on December 31, 2023-2 . The wrate off of uncollectible accounts in 2024. The collection in 2024 of accounts previously written off.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started