Question
Please help! i can't figure this out [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis
Please help! i can't figure this out
[The following information applies to the questions displayed below.]
Daley Company prepared the following aging of receivables analysis at December 31.
| Total | Days Past Due | |||||
|---|---|---|---|---|---|---|
| 0 | 1 to 30 | 31 to 60 | 61 to 90 | Over 90 | ||
| Accounts receivable | $ 575,000 | $ 397,000 | $ 91,000 | $ 37,000 | $ 19,000 | $ 31,000 |
| Percent uncollectible | 2% | 3% | 6% | 8% | 11% |
Exercise 7-14 (Algo) Aging of receivables method LO P3
a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,700 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $200 debit.
Hint: Use ledgers and 3-step process for Adjusting Entries! 
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
