of Dechables, Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following pattually completed aging of receivables schedule as of the end of business on December 31, 2011 Days Past Due Customer Balance Not Past Due 1-30 31 60 61-90 91-120 Over 120 Subtotals 796,100 441,700 191,100 87.600 29,500 26,300 19.900 The following accounts were unintentionally omitted from the aging schedule: Customer Due Date Balance Arcade Beauty May 28, 2011 $3,200 Creative Images Sept. 7. 2011 6,600 Excel Hair Products Od. 17, 2011 First Class Hair Care Oct 24, 2011 2.200 Golden Images Nov 23, 2011 700 On That Hau Nov. 29, 2011 3,000 One Stop Hair Designs Dec 2, 2011 2.400 Visions How Nail Jan 5, 2012 8,100 w Creation has a past history of uncollectible accounts by a category, as follows Percent Age Class Uncollectible Hot past du 2 1.30 days past 900 4 12 1-30 days post de 31 60 days past due 61.90 days poste 01-120 days past due Over 120 days past due Required: 15 40 30 1. Determine the number of days past due for each of the preceding accounts. If an account is not past du, enterrero Customer Due Date Number of Days Past Due Nice Beauty May 28, 2011 days Create ages Sept. 7, 2011 days Excel Hall Products Oct 17, 2011 days Fast Casa Care Oct 24, 2011 days Golden tages Nov. 21, 2011 days Oh That How Nov 29, 2011 One Stop Hair Designs Dec. 2. 2011 Vision Hill Tan 5,200 days days 2. Complete the song of recevable schedule by adding themed counts to the bottom of the schedule and updating the tools. It wount box does not require an entry. Wig Creations Company AL 2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, teave it blank Wig Creations Company Aging of Receivables Schedule December 31, 2011 Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61.90 Days Past Due 91-120 Days Past Duc Over 120 Customer Balance Subtitle Arcade Creative Images Excel Har Products Fast Casa Care Golden Image Oh that One Designs Vos Tural percent will uncollectie accounts binili nb m- 0;lullllll 0:lll 40 Cass How Care Golden Images Oh That Hair One Stop Hair Designs Visions Hair & Nail Total Percent uncollectible Estimate of uncollectible accounts 10. QI) |0:00 bod be 49 189 4096 80% 3. Estemate the allowance for doubtful accounts, based on the aging of receivables schedule, 4. Assume that the allowance for doubtful accounts for wie Creations has a credit balance of 51,480 before adjustment on December 31, 2071. Journalize the adjustment for uncollectible accounts. If an amount box does not requre an entry, leave it blank 88 5. Assume that the adjusting entry in (4) was inadvertently mutted, how would the mission affect the balance sheet and income statement On the balance sheet sets would be by because the allowance for doubtful accounts would be In addition, the owner's capital account would be by because bad debt expense would be and nat income on the income statement by