ok ces Estimated % uncollectible Amount of uncollectible Analysis of Aged Accounts Receivable Not yet 1-30 days past due 10% a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. View transaction list $ 16,400 b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 1 Date June 30 Record the bad debt expenses estimated for the period. Note: Enter debits before credits. due 5% General Journal Bad debt expense Allowance for doubtful accounts 31-60 days Over 60 days past due 20% past due 15% Debit Credit

a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the bad debt expenses estimated for the period. Note: Enter debits before credits. P5-6 (Algo) Determining Bad Debt Expense Based on Aging Analysis and Interpreting Ratios LO5-3, 5-4 Icekreme inc, makes ice cream machines for sale to ice cream parlours. The following events occurred between April 1 and June 30 of the current year: April 10 Received an order fron Peter's Appliances, a whotesaler, for 10 sachines, April 30 Sold 15 machines to Yuri Inc. on credit. May 1 The purchasing manager of Peter's Appliances visited IceKrese's factory and purchased 12 machines on credit, instead of the 10 machines that were previously ordered. May 5 Yuri Inc. paid for the nachines purchased on April 30. May 7 Sold 2 machines to cheng Ltd, on credit. May 10 Wrote off $13,000 of accounts receivable that were considered uncollectible. These recelvables relate to sales made prior to Aprit 1 of the current year. May 10 Peter's Appliances pald the asount doe to Icekrene. June 30 Recovered $3,500 fros the receivables that were written off on May 10. Additional information is as follows: - IceKreme sold all machines at $15,000 per unit. - All of IceKreme's sales were on credit with terms n/30. - Icekreme's records included the following items and their balances as at March 31 of the current year: Required: 1. Prepare the journal entries to record the transactions that occurred from April 1 to June 30 of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. The company uses the aging of accounts receivable method to determine the amount of bad debt expense. The estimated uncollectible rates for the various age groups are as follows: (Hint: Use a timeline to keep track of accounts recelvable in order to determine the age of these receivables.) a. Determine the amount of receivables that may not be collectible in the future as on June 30 of the current year. b. Prepare the journal entry to record bad debt expense at June 30 of the current year, the company's fiscal year-end. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)