QUESTION 15

Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. . Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to stimate uncollectibles, instead of the aging of receivables method. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the llowance for Doubtful Accounts is a $13,100 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Ilowance for Doubtful Accounts is a $2,100 debit. Complete this question by entering your answers in the tabs below. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $13,100 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,100 debit. Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $13,100 credit balance. Note: Enter debits before credits