On December 1, Daw Co. accepts a $46,000, 45-day, 9% note from a customer. (1) Prepare the year-end adjusting entry to record accrued Interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming It is honored. (Use 360 days a year) View transaction list Journal entry worksheet Record the year-end adjustment related to this note, if any. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal 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 $655,000 1 0 $413,000 to 30 31 to 60 61 to 90 $107,000 $53,000 $35,000 45 Over 90 $47,000 Accounts receivable Percent uncollectible a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $5,300 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 $1,800 debit. Complete this question by entering your answers in the tabs below. ReqA Req B and C Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Percent Accounts Uncollectible Receivable ( Not due: 1 to 30 31 to 60 61 to 90 Over 90 Estimated balance of allowance for uncollectibles Reg Band > Required Information Complete this question by entering your answers in the tabs below. Reg A Req Band 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 $5,300 credit. 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 $1,800 debit. Show less View transaction list Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $5,300 credit balance. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal 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 $655,000 1 to 30 $107,000 $613,000 31 to 60 61 to 90 $53,000 $35,000 Over 90 $47,000 Accounts receivable Percent uncollectible 129 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 $13,700 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 $2,700 debit Complete this question by entering your answers in the tabs below. Reg A Reg B and C 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 Reqs and c 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 $13,700 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 $2,700 debit. Complete this question by antering your answers in the tabs below. Req A Reg Band 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 $13,700 credit. 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 $2,700 debit. Show less View transaction list Journal entry worksheet Record estimated bad debts assuming that allowance for Doubtful Accounts has a $13,700 credit balance. Note: Enter debits before credits General Journal Dec 31 Debit Credit Record entry Clear entry View general lournal
