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Preparing an Aging Schedule to Estimate Allowance for Doubtful Accounts A review of open invoices of Sketchers Inc, results in the following report. Required a.
Preparing an Aging Schedule to Estimate Allowance for Doubtful Accounts A review of open invoices of Sketchers Inc, results in the following report. Required a. Organize the list of open invoices as of December 31 into a table with the following aging categories across the top: (1) less than 31 days, (2) 3160 days, (3) 6190 days, and (4) greater than 90 days. b. Assume that the company estimates the allowance for doubtful accounts based on the following percentages applied to the appropriate aging categories: (1) 19 for less than 31 days, (2) 5% for 31-60 days, (3) 30\% for 6190 days, and (4) 60% for greater than 90 days. What is the ending balance of the allowance for doubtful accounts as estimated by the company? Complete the following table to complete requirements of parts a and b. Note: For each of the dollar amounts that you enter into the table below, round to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for Preparing an Aging Schedule to Estimate Allowance for Doubtful Accounts A review of open invoices of Sketchers Inc, results in the following report. Required a. Organize the list of open invoices as of December 31 into a table with the following aging categories across the top: (1) less than 31 days, (2) 3160 days, (3) 6190 days, and (4) greater than 90 days. b. Assume that the company estimates the allowance for doubtful accounts based on the following percentages applied to the appropriate aging categories: (1) 19 for less than 31 days, (2) 5% for 31-60 days, (3) 30\% for 6190 days, and (4) 60% for greater than 90 days. What is the ending balance of the allowance for doubtful accounts as estimated by the company? Complete the following table to complete requirements of parts a and b. Note: For each of the dollar amounts that you enter into the table below, round to two digits after the decimal; for example, enter 1.42 for 1.424, or 1.43 for
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