{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T09:23:31-04:00", "answer_date": "2024-06-28 09:23:31", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4283002", "url": "\/study-help\/questions\/question-2-12-pts-louise-and-elizabeth-cake-designs-4283002", "question_creation_date_js": "2024-06-28T09:23:31-04:00", "question_creation_date": "Jun 28, 2024 09:23 AM", "meta_title": "[Solved] Question 2 - 12 pts Louise and Elizabeth | SolutionInn", "meta_description": "Answer of - Question 2 - 12 pts Louise and Elizabeth Cake Designs allow customers to charge on account. Their year end is December | SolutionInn", "meta_keywords": "question,2,-,12,pts,louise,elizabeth,cake,designs,customers,charge,account", "question_title_h1": "Question 2 - 12 pts Louise and Elizabeth Cake Designs allow customers to charge on account. Their year end is December 31, 2020. They have", "question_title": "Question 2 - 12 pts Louise and Elizabeth Cake Designs allow customers", "question_title_for_js_snippet": "Question 2 12 pts Louise and Elizabeth Cake Designs allow customers to charge on account Their year end is December 31, 2020 They have provided the below aged accounts receivable ledger as at December 31, for you to prepare the required entry to record the bad debt expense Customer 0 30 days 31 60 days 61 90 days 90 days Total MacDonald $ 5,500 $ 5,500 Cameron 600 7,200 7,800 Yeboah 300 300 Coderre 4,100 3,700 7,800 Busi 2221 Handout Assignment Chapter 8 Due Porter 9,400 9,400 Roberts 350 350 $ 600 $ 9,700 $11,650 $ 9,200 $31,150 Louise and Elizabeth estimate, based on history, the percentage uncollectible accounts are as follows accounts between 0 and 30 days 3 accounts between 31 and 60 days 5 accounts between 61 and 90 days 8 accounts over 90 days old 15 Instructions Assuming the unadjusted balance in Allowance for Doubtful Accounts is a $1,000 debit, prepare the adjusting entry to record the current year's bad debt expense", "question_description": "

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\"image<\/div><\/div><\/div> Question 2 - 12 pts Louise and Elizabeth Cake Designs allow customers to charge on account. Their year end is December 31, 2020. They have provided the below aged accounts receivable ledger as at December 31, for you to prepare the required entry to record the bad debt expense. Customer 0-30 days 31-60 days 61-90 days + 90 days Total MacDonald $ 5,500 $ 5,500 Cameron 600 7,200 7,800 Yeboah 300 300 Coderre 4,100 3,700 7,800 Busi 2221 Handout Assignment Chapter 8 Due: Porter 9,400 9,400 Roberts 350 350 $ 600 $ 9,700 $11,650 $ 9,200 $31,150 Louise and Elizabeth estimate, based on history, the percentage uncollectible accounts are as follows: accounts between 0 and 30 days - 3% accounts between 31 and 60 days - 5% . . accounts between 61 and 90 days - 8% accounts over 90 days old - 15%. Instructions Assuming the unadjusted balance in Allowance for Doubtful Accounts is a $1,000 debit, prepare the adjusting entry to record the current year's bad debt expense", "transcribed_text": "", "related_book": { "title": "Core Macroeconomics", "isbn": "978-1429278478, 1429278471, 978-1429278492, 1429278498, 1464191433, 978-1464191435", "edition": "3rd edition", "authors": "Eric Chiang", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/648.jpg", "uri": "\/textbooks\/core-macroeconomics-3rd-edition-648", "see_more_uri": "" }, "free_related_book": { "isbn": "B002BMA4L0", "uri": "\/textbooks\/the-action-science-an-introduction-to-action-accounting-theory-b0bm68cmb4-306750", "name": "The Action Science An Introduction To Action Accounting Theory", "edition": "" }, "question_posted": "2024-06-28 09:23:31", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-academic-house-publishing-company-sends-out-the-textbooks-it", "description": "The Academic House Publishing Company sends out the textbooks it publishes to an independent book binder. 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