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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 Duc Accounts receivable Percent uncollectible Total $650,ce 1 to 32 $186,298 3% 31 to 60 $52,00 61 to se $34,000 $412,000 2% Over se $46,00 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 Bed Debts Expense using the estimate from porta. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,200 credit. c. Prepare the adjusting entry to record bed debts expense using the estimate from porta. Assume the unsdjusted balance in the Allowance for Doubtful Accounts is a $1,700 debit. Complete this question by entering your answers in the tabs below. Req A Reg Band Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable Accounts Percent Receivable Uncollectible %) Nat due: 1 to 30: X 31 to 60 61 to 90: Over 90: Estimated balance of allowance for uncollectibles Required Information [The following information applies to the questions disployed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Duc Total $650.000 31 to 60 $52.ee Accounts receivable Percent uncollectible $412, 1 to 30 $186,00 3% 61 to se $34,99 Over ye $46,000 2% a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bed Debts Expense using the estimate from porta. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $13,600 credit. C. Prepare the adjusting entry to record bed debts expense using the estimate from perto. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,600 debit. Complete this question by entering your answers in the tabs below. Req A Reg B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles REGA Req B and c>
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