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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

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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 Due Accounts receivable Percent uncollectible Total $570,000 0 $396,000 1% 1 to 30 $90,000 2% 31 to 60 $36,000 5% 61 to 90 $18,000 7% Over 90 $30,000 10% a. Complete the table below 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 $3,600 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 $100 debit. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts receivable Percent uncollectible (%) Not due: X II II 1 to 30: 31 to 60: = 61 to 90: X Over 90: = Estimated balance of allowance for uncollectibles $ 0 Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,600 credit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $100 debit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31

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