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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. Accounts
Required information [The following information applies to the questions displayed below] Daley Company prepared the following aging of receivables analysis at December 31. Accounts receivable Percent uncollectible Total $590,000 1 to 30 Days Past Due 31 to 60 61 to 90 $ 400,000 $94,000 $ 40,000 $ 22,000 Over 90 $34,000 2% 3% 6% 8% 11% Check my w es 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 $4,000 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 $500 debit. Complete this question by entering your answers in the tabs below.
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