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Part of the receivables aging schedule for Sunshine Fabrics is shown below. (a) What amount is estimated to be uncollectible? Round calculations to the nearest
Part of the receivables aging schedule for Sunshine Fabrics is shown below. (a) What amount is estimated to be uncollectible? Round calculations to the nearest dollar Est. Uncollectible Accounts Age Interval Balance Percentage Amount Not past due $550,000 2.50% 1-30 days past due 196,500 4.00% 31-60 days past due 43,750 9.50% 61-90 days past due 22,250 16.00% 5,600 31.00% 91-180 days past due 181-365 days past due Over 365 days past due 3,100 60.00% 1.250 95.00% Total $822,450 (b) If the Allowance for Doubtful Accounts has a credit balance of $8,700, record the adjusting entry for the bad debt expense for the year, (c) If the Allowance for Doubtful Accounts has a debit balance of $8,700, record the adjusting entry for the bad debt expense for the year, AITASAID AIT ENFIN /Mart
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