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at december 31st 2018 before any year end adjustments the accounts receiveable balance of erie technology inc is $300,000. the allowance for uncollectible accounts has a $18,600 credit balance. erie technology prepares the following aging schedule for accounts receiveable

At December 31, 2018, bekre any year-end shens, te Acourt' Rooivatie balance of Ene Techno gyine, is $330,000. The Allowance lor Unollectble El(Cick the loon to view the aging schedule) Read the requiements Data T 1, Based on te agngofAcourts Receivatieisthe uradated balance ofte alowane acount adequate? Too high? Toolow? ist, caloulate a nevised allowance f Allowance for Uncollectible Accounts for unclectible accounts amount and the adjusting entry amount. (Rsund to the nearest dolar) Total Balancs $330.000 Estimated und Credit baiance needed 1-30 31-60 61-90 Over 90 Sublotal Less: Unadjusted balance The credt balance at December 31 in Allowance for Uncoletible Accounts should be S Requirement 2 Maks the entry requined by the aging schedule Prepare aT-account for the alowance it Roquire The curent balance is Thus, the cument balance of the allowance acoount is 2. Make the ens 3 Show how En s, make the eny qured by the inghe Record dbis fnt, then cedts. Exclude explanations from any joumal entries ournal Entry Dec 31 or Uncolectible Accounts Requirement 3 Show how Ens Technology will report Aouts Receivable on s December 3 1 balance sheet 00.The lwance for Unolecible Accounts has aln) $18,600 credt balance. Erie Technology prepares the following aging schedule for Accounts Receivable Data Tabe Too high? Too low? t dolar.) Age of Accounts 61-90 Days $70,000 50 % Over 90 Days 30,000 50.0% Total Balance 1-30 Days 31-60 Days 130,000 $100,000 40% 330.000 06% Print Done Requinements 1 tlased on the aging of Aocounts Receivable, is the unadjusted balance of the Make the entry mequined by the aging schedule. Prepare a T-account for the owance account adequate? Too high? Too low? Print Done Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low accounts amount and the adjusting entry amount. (Round to the nearest dollar) First, caloulate a revised allowance for uncolectible Allowance for Uncollectible Accounts Credit balanoe needed 1-30 31-60 61-90 Over 90 Subtotal Less: Unadjusted balance Adjusting entry amount The credt balance at December 31 in Allowance for Unoolectible Accounts should be$ The current balance its Thus, the curment balance of the allowance account is Requirement 2. Make the entry required by the aging schedule. Prepare a T-account for the allowance. Frst, make the entry required by the aging schedule (Record debits frst, then credits. Exclude explanations from any joumal entries) Journal Entry Date Debit Credit Dec 31 Now, prepare a T-account for the alowance. lowance for Uncolectible Accounts Requirement 3. Show how Ene Technology will repot Accounts Receivable on is Finst show the single line presentation Balance Sheet (Partialy December 31 balance sheet Now show the detal Choose foom any list or entor any number in the input felds and then continus to the next question Data Table Age of Accounts 1-30 Days 31-60 Days 61-90 Days Over 90 Days Total Balance $330,000 Estimated uncollectible $130,000 0.6 % $100,000$70,000 5.0 % $30,000 50.0 % 4.0 % Print Done Requirements 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? 2. Make the entry required by the aging schedule. Prepare a T-account for the allowance. 3. Show how Ene Technology will report Accounts Recevable on its December 31 balance sheet Print / Done