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O Required information {The following information applies to the questions displayed below.) Daley Company prepared the following aging of receivables analysis at December 31. Days

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O Required information {The following information applies to the questions displayed below.) Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 1 to 30 31 to 60 61 to 90 Accounts receivable $625,000 $407,000 $101,000 $ 47,000 $29,000 Percent uncollectible 0 Over 90 $41,000 125 38 41 70 98 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% 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 $13,100 credit. 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 $2,100 debit. Complete this question by entering your answers in the tabs below. Rega Req B and Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method Estimated balance of allowance for uncollectibles Reg B and C> Required Information Red A Reg B and C Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the uradjusted balance in the Allowance for Doubtful Accounts is a $13,100 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part 3. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,100 debit. Show less View transaction list Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $13,100 credit balance. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal

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