please help me with the ones i got wrong, and number 2 also

type your answers so i understand better

Aging of Receivables; Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 2017: Not Days Past Due Past Due 1-30 31-60 61-90 91-120 Over 120 Customer ABC Beauty Angel Wigs Balance 15,000 8,000 15,000 8,000 Zodiac Beauty Subtotals 3,000 875,000 3,000 210,000 415,000 112,000 55,000 18,000 65,000 The following accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Visions Hair & Nail, which is due in the next year. Due Date Balance Aug. 17 10,000 Customer Arcade Beauty Creative Images Excel Hair Products Oct. 30 July 3 8,500 7,500 Check My Work 2 more Check My Work uses remaining. Next > Excel Hair Products First Class Hair Care Golden Images July 3 Sept. 8 7,500 6,600 3,600 1,400 Oh That Hair Nov. 23 Nov. 29 Dec. 7 Jan. 11 4,000 One Stop Hair Designs Visions Hair & Nail 9,000 Wig Creations has a past history of uncollectible accounts by age category, as follows: Age Class Percent Uncollectible Not past due 1-30 days past due 31-60 days past due 61-90 days past due 91-120 days past due Over 120 days past due Required: 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Customer Due Date Number of Days Past Due Check My Work 2 more Check My Work uses remaining. Next Required: 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Customer Arcade Beauty Creative Images Excel Hair Products First Class Hair Care Due Date Aug. 17 Oct. 30 July 3 Sept. 8 Nov. 23 Nov. 29 Dec. 7 Jan. 11 Number of Days Past Due 136 days 62 days 153 x days 114 days 38 days 3 2 days 24 days 0 days Golden Images Oh That Hair One Stop Hair Designs Visions Hair & Nail 1 Feedback Check My Work Count the number of days after the due date up to December 31. Do not include the due date in your count. Remember that not all months have an equal number of days. 2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and undating the Check My Work 2 more Check My Work uses remaining. Next 8,000 8,000 3,000 875,000 10,000 3,000 210,000 112,000 55,000 18,000 415,000 0 65,000 10,000 C 8.500 8,500 7,500 7.500 Angel Wigs Zodiac Beauty Subtotals Arcade Beauty Creative Images Excel Hair Products First Class Hair Care Golden Images Oh That Hair One Stop Hair Designs Visions Hair and Nail Totals Percent uncollectible 0 0 6,600 6,600 6.600 3,600 1.400 3,600 JEJULUIGUI 1,400 4.000 4,000 9.000 9.000 925,600 424.000 214.000 117,000 63.500 24.600 R2 500 16 % 25 % Estimate of uncollectibles accounts $ 4.240 8,560 $ 18.720 $ 15878 15,875 $ 3840 9,840 66.000 6.000 3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule. $ 123,235 Check My Work 2 more Check My Work uses remaining Next $ 123,235 Feedback Check My Work Add the accounts into the aging schedule based on their number of days past due. Apply the respective uncollectible percentage to the total receivables in each days past due group and the not past due group. 4. Assume that the allowance for doubtful accounts for Wig Creations has a credit balance of $7,375 before adjustment on December 31. Journalize the adjustment for uncollectible accounts. If an amount box does not require an entry, leave it blank. Dec, 31 Bad Debt Expense 7,375 Allowance for Doubtful Accounts 130.610 Feedback Check My Work The amount of bad debt expense is affected by the balance in the allowance account. 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? Check My Work 2 more Check My Work uses remaining Next Dec 31 Bad Debt Expense 7,375 Allowance for Doubtful Accounts 130,610 x Feedback Check My Work The amount of bad debt expense is affected by the balance in the allowance account 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? On the balance sheet, assets would be overstated by $ 130,610 X because the allowance for doubtful accounts wou be understated by $ 7,375 X. In addition, the stockholders' equity (retained earnings) would be overstated by $ 7,375 X because bad debt expense would be understated and net income overstated by $ 7,375 X on the income statement. Feedback Check My Work Consider the effects of a contra asset not being recorded in terms of the balance sheet equation. Consider the effects of an expense not being reported in terms of the income equation Check My Work 2 more Check My Work uses remaining. Next