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Need answer on excel please Part 3. Calculating an Allowance for Doubtful Accounts Calculate the required balance in the allowance for doubtful accounts for the
Need answer on excel please
Part 3. Calculating an Allowance for Doubtful Accounts Calculate the required balance in the allowance for doubtful accounts for the Jones Company as of December 31, 2019. Use the format shown in Illustration 7.6 on page 7-15 of our textbook. The data you will need to compute the required balance in the Allowance is presented in the first three columns (all data shown is as of December 31, 2019) Amount Required Balance in Allowance Age Under 30 days 30 - 60 days 61 - 90 days 91 - 120 days Over 120 days $600,000 $180,000 $ 19,000 $ 7,000 $ 54,000 Percentage Estimated to Be Uncollectible 0.5% 3.5 11.0 14.3 21.0Step by Step Solution
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