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Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Total $115,200 Accounts receivable Percent uncollectible 0 $80,000 16
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Total $115,200 Accounts receivable Percent uncollectible 0 $80,000 16 Days Past Due 1 to 30 31 to 60 61 to 90 Over 90 $18,000 $ 7,200 $4,000 $6,000 30 58 84 111 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Percent receivable uncollectible (%) Not due 1 to 30 31 to 60 81 to 90 Over 90 Estimated balance of allowance for uncollectibles RA Reg 2 > Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Days Past Due 1 to 30 31 to 60 61 to 90 Over 90 $18,000 $ 7,200 $ 4,000 $6,000 38 58 84 113 Total $115,200 Accounts receivable Percent uncollectible $80,000 15 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit. View transaction list Journal entry worksheet 1 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $1,000 credit balance. Note: Enter debits before credits General Journal Date Dec 31 Debit Credit Record entry Clear entry View general journal
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