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Required information [The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance
Required information [The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 820,000 328,000 65,600 32,800 13, 120 Age of Expected Percent Accounts Receivable Uncollectible Not yet due 1. 20% 1 to 30 days past due 1.95 31 to 60 days past due 6.45 61 to 90 days past due 32.50 Over 90 days past due 67.00 Journal entry worksheet 1 Record the estimated bad debts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31. Estimated Uncollectible = Accounts Percent Receivable Uncollectible (#.##%) Not due: x 1 to 30: 31 to 60 61 to 90 Over 90: Estimated balance of allowance for uncollectibles = $
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