Question 6 Answer saved Marked out of 8.0 Remove flag On December 31, 2020, ABC Inc. has an accounts receivable balance of $300,000. At year end, the company prepares the following aging schedule for accounts receivable: Total balance 1-30 days 31-60 days 61-90 days over 90 days $300,000 $150,000 $80,000 $50,000 $20,000 11% % of Estimated 2.5% 5% 15% uncollectibles Estimated uncollectibles total = a. Complete the partial aging schedule in order to estimate the total uncollectible receivables. (3 pts) b. If at Dec 31, 2020, the allowance for doubtful accounts has a $7,000 credit unadjusted balance, journalize the adjusting entry to record bad debts for the year. (4 pts) Question 2 Answer saved Marked out of 2.0 P Flag question Belize Bank received a $10,000, 5%, 90 days note dated April 8, 2020 from ASR Enterprises for a loan issued, which April 8, 2020 is the issuance date. Ob the term of the note is 5% Oc Belize Bank should debit cash to record this transaction O d. As R Enterprises is the payee of the note. Clear my choice Question 9 Answer saved Marked out of 2.0 P Flag question The methods of accounting for uncollectible accounts are the Oa Allowance Method, percent of sales method and Aging (Analysis of Receivables method) Ob Allowance method and the Bad Debts Method c. Direct write-off method and the Allowance method Od Percent of sales method and Aging method Clear my choice Timon Question 5 Arvewer ved Warka out of 20 p Flag question Which of the following transactions will be recorded by debiting the accounts receivable for a customer? O receiving a note from a customer to settle their account Ob the customer making payment on their account selling merchandise on Credit/account Od writing off a customer's account Clear my choice