NO Saved Help Save & Exit Submit Check my work 2 . 12 Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. Daley Company prepared the following aging of receivables analysis at December 31, Days Past Due Accounts receivable Percent uncollectible Total $585,000 $399,000 14 1 to 30 $93,000 24 31 to 60 61 to 90 $39,000 $21,000 54 74 Over 90 $33,000 10 Exercise 7-9 Percent of receivables method LO P3 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 6% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,300 credit c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted alan AllaAnni di 12 Required information Part 2 of 2 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 6% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. balance in the Allowance for Doubtful Accounts is a $12,300 credit b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,300 debit 0.62 points BOOK Complete this question by entering your answers in the tabs below. Print References Req A Req B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 6% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles Red Band Me CO Required information 2 of 2 Reg A Reg B and C 2 ts Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,300 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part 2. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,300 debit. She eBook Print View transaction list oferences Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $12,300 credit balance Note: Enter debits before credits