Problem F. Castro Shoes Company is in the power boat manufacturing business. As of 2015 September 1, the balance in its Accounts Receivable by Age account is $156,000. A schedule of accounts receivable by age is as follows:

1.Compute the estimated uncollectible accounts at the end of the fiscal year using above rates.

2.The credit balance was = $230 in Allowance for Doubtful Accounts (December 31, 2015), please calculate the amount of the adjustment for uncollectable accounts expense. This adjustment should included as a part of the adjusting entries. Record this entry.

3.Elson Adam (account receivable) did not make a payment on time and the amount of $670 was classified as uncollectible and written off on June 15, 2015, please record this journal entry.

4.Please, estimate the uncollectible accounts using percentages of the total accounts receivable on December 31, 2015. The rate = 3% of the total total accounts receivable. Record this entry.

Book2 - Excel Sign in X Share File Home Insert Page Layout Formulas Data Review View Developer My Macros Help Tell me what you want to do 2 AutoSum . & Cut ab Wrap Text Genera Normal Bad Good Neutral Calculation Fill - AY O Paste BE Copy Calibri 11 V A" A" nsert Delete Format Sort & Find & BIU- BLA Merge & Center * % " Conditional Format as Check Cell Explanatory ... Followed Hy... Hyperlink Input Clear Table Filter . Select Format Painter Formatting Cells Editing Clipboard Font Alignment Number Styles A26 X P A B D E G H K M N O Q R S U Account Balance Current Past Due In Days 30-Jan 31-60 Over 2 60 3 Elson, Adam, 22,000 850 350 670 4 Griffin, Erica 26,690 570 700 550 5 Castro, Rod 3000 155 70 6 All other accounts 110,010 25,000 4,500 3,755 1,567 7 Totals 161,700 26,575 5,550 4,375 2,226 9 Use the Following Uncollectible Accounts rates: 10 Current 1% 11 1-30 days past due 4% 12 31-60 days past due 10% 13 Over 60 days past due 21% Requirements: 14 15 16 17 18 19 Sheet1 + - - + 100% 1:45 PM 9 X e o X w Desktop ~ [)) Saturday E 7/11/2020exercise 6 - Word Sign in X Fil Home Insert Design Layout References Mailings Review View Help Developer Tell me what you want to do Share Cut Find Paste Be Copy Calibri (Body V 12 |A A Aa - R AaBbCcD