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Please Answer the missing Debit and Credit answers for a thumbs up. Oriole Company has accounts receivable of $92,000 at March 31, 2022. Credit terms
Please Answer the missing Debit and Credit answers for a thumbs up.
Oriole Company has accounts receivable of $92,000 at March 31, 2022. Credit terms are 2/10,n/30. At March 31, 2022, 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 Estimated Percentage Age of Accounts 2022 2021 Uncollectible Current $61.400 $76,320 2 96 1-30 days past due 13,800 8,280 31-90 days past due 9,900 2,170 30 Over 90 days past due 6.900 1,040 50 $92,000 $87,810 5 (a) Your answer is correct. Determine the total estimated uncollectibles at March 31 2022. The total estimated uncollectibles $ 8338 eTextbook and Media List of Accounts Attempts: 2 of 3 used (b) Your answer is partially correct. Prepare the adjusting entry at March 31, 2022, 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 Bad Debt Expense Allowance for Doubtful AccountsStep by Step Solution
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