Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Percent Uncollectible by Age Makeup of Total Sales begin{tabular}{l|l||l|} hline Required 1 & Required 2 & Required 3 hline end{tabular} Make the adiusting entry

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Percent Uncollectible by Age Makeup of Total Sales \begin{tabular}{l|l||l|} \hline Required 1 & Required 2 & Required 3 \\ \hline \end{tabular} Make the adiusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8,000 debit and use of the aging of accounts receivables method. Journal entry worksheet Record the estimated bad debts. Noter Enter debits belore credis. Accounts Receivable by Age Over 90 days past due 61.90 days past due 3160 days past due 1.30 days past due Not yet due Percent Uncollectible by Age Makeup of Total Sales 1. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. 2. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowonce for Doubtiul Accounts is a $5,000 credit and use of the aging of accounts receivables method. 3. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8,000 debit and use of the aging of accounts receivables method 4. Based on further analysis, assume we find that the percentages in the grophic "Percent Uncollectible by Age" are too high. When alerting the manager, she responds that this is intentional. What are the income statement impacts from the overstated percentages? Complete this question by entering your answers in the tabs below. Estimate the balance of the Alowance for Doubtful Accounts using aging of accounts receivable. Tableau DA 8-3: Problems Aging of receivables method and adjusting entries LO3 The manager asks you to assist her with the data analytics on bad debts expense at year-end To do this, you access the following Tableau Dashboard for your company Makeup of Current Assets Value (\$) Accounts Receivable by Age Over 90 days past due 61-90 days past due 31.60 days past due 1-30 days past due Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowanoe for Doubtful Accounts is a $5,000 credit and use of the aging of accounts receivables method. Journal entry worksheet 1 Record the estimated bad debts. Noten Enter debils before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

4th Edition

0073379352, 9780073379357

More Books

Students also viewed these Accounting questions