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Required: 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero.
Required: 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Wig Creations has a past history of uncollectible accounts by age category, as follows: 3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule. 4. Assume that the allowance for doubtful accounts for Wig Creations has a credit balance of \\( \\$ 1,730 \\) before adjustment on December \\( 31,20 Y 1 \\). Journalize the adjustment for uncollectible accounts. 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? On the balance sheet, assets would be because the allowance for doubtful accounts would be by . In addition, the owner's capital account would be by because bad debt expense would be and net income by on the income statement
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