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Please complete in the format provided. Thanks in advance. An aging analysis of Crane Company's accounts receivable at December 31, 2020 and 2021, showed the
Please complete in the format provided.
An aging analysis of Crane Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Outstanding 0-30 days Estimated % Uncollectible 2021 2020 1% $102,000 $125,000 6% 25,500 62,500 31-60 days 61-90 days 13% 51,000 37,500 Over 90 days 25% 76,500 25,000 Total $255,000 $250,000 Additional information: 1 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts was a credit of $6,800. In 2021, $27.300 of accounts was written off as uncollectible and $2,300 of accounts previously written off was collected, 2 Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2020, and at December 31, 2021 2020 Number of Days Outstanding Estimated Uncollectible Amount % 0-30 days $125,000 1% 31-60 days 62,500 6% 61-90 days 37.500 13% Over 90 days 25,000 25% Total $250,000 $ 2021 Number of Days Outstanding Estimated Uncollectible Amount 0-30 days $102,000 1% 31-60 days 25.500 6% 61-90 days 51.000 13% Over 90 days 76,500 25% Total $255,000 $ --/O Question Part Score Calculate the carrying amount of Crane's accounts receivable at December 31, 2020, and December 31, 2021. 2020 2021 Carrying amount e Textbook and Media List of Accounts Question Part Score --/0.33 Record the following: 1 2 The adjusting entry on December 31, 2020. The write off of uncollectible accounts in 2021. The collection in 2021 of accounts previously written oft. The adjusting entry on December 31, 2021. 3 4. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit 1 To record estimate of uncollectible accounts: Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit 1 (To record estimate of uncollectible accounts.) 2 . (To record writeoff of accounts receivable.) 3. (To reverse write off.) (To record collection of previously written oft accounts.) 4 To record estimate of uncollectible accounts.) e Textbook and Media List of Accounts Thanks in advance.
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