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Required Information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past
Required Information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total $635,eee Accounts receivable Percent uncollectible 31 to 60 $49,ese 1 30 $183, eee 3% $409, eee 2% 61 to 90 $31,800 8% Over 90 $43,000 11% a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable 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 $4 900 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 $1,400 debit Complete this question by entering your answers in the tabs below. a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $4.900 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 $1,400 debit Complete this question by entering your answers in the tabs below. Req A Req Band C Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Percent Receivable Uncollectible 1%) Not due 400.000 2% 1 to 30: 103,000 x 3% 31 to 60 49,000 0% = 31,000 8% = 61 to 90 119 = 43,000 X Over 90 Estimated balance of allowance for uncollectibles 8.130 3,090 2.940 2.480 4.730 21.420 Reg Band C> Req A Req B and c Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadju Allowance for Doubtful Accounts is a $4,900 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjus Allowance for Doubtful Accounts is a $1,400 debit. View transaction list Journal entry worksheet 2 Record estimated bad debts assuming that allowance for Doubtful Accounts has a 54,900 credit balance. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $1,400 debit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dea 3 Record entry Clear entry View general journal
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