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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. . Organize
Preparing an Aging Schedule to Estimate Allowance for Doubtful Accounts A review of open invoices of Sketchers Inc. results in the following report. . Organize the list of open invoices as of December 31 into a table with the following aging categories across the top: (1) ess than 31 days, (2) 31-60 days, (3) 61-90 days, and (4) greater than 90 days. . Assume that the company estimates the allowance for doubtful accounts based on the following percentages applied to the ppropriate aging categories: (1) 1\% for less than 31 days, (2) 5\% for 31-60 days, (3) 30\% for 61-90 days, and (4) 60\% for greater thar 0 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 xample, enter 1.42 for 1.424 , or 1.43 for 1.425
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