Presented below is an aging schedule for Shamrock, Inc. at December 31, 2021. Customer Total Not...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66535fedacd7c_07766535feda2ef8.jpg)
Transcribed Image Text:
Presented below is an aging schedule for Shamrock, Inc. at December 31, 2021. Customer Total Not Yet Due 1-30 Number of Days Past Due 31-60 61-90 Over 90 Aneesh $ 24,300 $ 8,800 $15,500 Bird 27,800 $27,800 Cope 52,100 4,600 5,100 DeSpears 40,000 $42,400 $40,000 Others 124,300 73,400 37,800 13,100 $268,500 $105,800 $51,700 $28,600 $42,400 $40,000 Estimated percentage 3% 6% 13% 25% 58% uncollectible Total estimated bad debts $43,794 $3,174 $3,102 $3,718 $ 10,600 $23,200 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,400. Presented below is an aging schedule for Shamrock, Inc. at December 31, 2021. Customer Total Not Yet Due 1-30 Number of Days Past Due 31-60 61-90 Over 90 Aneesh $ 24,300 $ 8,800 $15,500 Bird 27,800 $27,800 Cope 52,100 4,600 5,100 DeSpears 40,000 $42,400 $40,000 Others 124,300 73,400 37,800 13,100 $268,500 $105,800 $51,700 $28,600 $42,400 $40,000 Estimated percentage 3% 6% 13% 25% 58% uncollectible Total estimated bad debts $43,794 $3,174 $3,102 $3,718 $ 10,600 $23,200 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,400.
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
You are called in as a financial analyst to appraise the bonds of Olsens Clothing Stores. The $1,000 par value bonds have a quoted annual interest rate of 10 percent, which is paid semiannually. The...
-
Universal Company was organized on January 1, 1989, for the purpose of investing in the shares of other companies. Universal Company immediately issued 46,000 shares of \(\$ 5\) par, common stock for...
-
Company A owns a building. Which of the following statements regarding depreciation as used by accountants is false? a. As the value of the building decreases over time, it "depreciates." b....
-
Derby Company prepares monthly cash budgets. Relevant data from operating budgets for 2013 are: All sales are on account. Collections are expected to be 60% in the month of sale, 30% in the first...
-
Class size of variously sections of college algebra at your university are an example of which type of data
-
ABC.COM Home Appliance Company has decided to migrate their network from IPv4 to IPv6 to meet a recent development in Internet of Thing (IoT). Due to the budget, only the company's HQ and two of its...
-
Identify and integrate a change theory as the foundation of your SWOT analysis justifying new nurse retention
-
7. Consider an LC circuit, with inductance L = 0.1 H and capacitance C = 103 F, kept on a plane. The area of the circuit is 1 m. It is placed in a constant magnetic field of strength Bo which is...
-
Beach 10. The figure shows a circuit having eight resistances of 10 each, labelled R1 to R8, and two ideal batteries with voltages & = 12 V and 2 = 6 V. 1 R B1 Rs R R Which of the following...
-
12. Three plane mirrors form an equilateral triangle with each side of length L. There is a small hole at a distance /> O from one of the corners as shown in the figure. A ray of light is passed...
-
15. A small circular loop of area A and resistance R is fixed on a horizontal xy-plane with the center of the loop always on the axis of a long solenoid. The solenoid has m turns per unit length and...
-
16. List I describes four systems, each with two particles A and B in relative motion as shown in figures. List II gives possible magnitude of their relative velocities (in m s) at time t = 3 S....
-
MGT-445: Ethical & Legal Business Concepts In your Bible, read: 2 Corinthians 8:7 Colossians 3:23-24 Navigate to the threaded discussion and use clear, critical thinking to discuss the following: How...
-
Journalize entries to reinstate accounts receivable previously written off, using the specific charge-off method.
-
Journalize entries to reinstate accounts receivable previously written off, using the allowance method.
-
Explain the nature of Allowance for Doubtful Accounts, how it comes into existence, and what happens to it.
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App