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Oriole Company has accounts receivable of $ 92,000 at March 31, 2020. Credit terms are 2/10,6/30. At March 31, 2020, there is a $ 1.949
Oriole Company has accounts receivable of $ 92,000 at March 31, 2020. Credit terms are 2/10,6/30. At March 31, 2020, there is a $ 1.949 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 2020 2019 $61,400 $76,320 13,800 8.280 Estimated Percentage Uncollectible 2 % Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 5 9.900 2.170 28 6,900 1.040 49 $ 92.000 $87,810 Determine the total estimated uncollectibles The total estimated uncollectibles $ Prepare the adjusting entry at March 31,2020, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Credit Debit Orlole Company has accounts receivable of $ 92.000 at March 31, 2020. Credit terms are 21 1.949 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Balance, March 31 2020 $ 61,400 Estimated Percentage Uncollectible 2 % Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 2019 $ 76,320 8.280 AN 13,800 5 9.900 2.170 28 6.900 1.040 49 $92.000 S87,810 Determine the total estimated uncollectibles The total estimated uncollectibles S Prepare the adjusting entry at March 31, 2020, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit
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