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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. Total
Required information. [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Total Accounts receivable $ 570,000 0 $ 396,000 1 to 30 $ 90,000 Days Past Due 31 to 60 61 to 90 Over 90 $ 36,000 $ 18,000 Percent uncollectible 1% 2% 5% 7% $ 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. Answer is not complete. Complete this question by entering your answers in the tabs below. 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 (%) Estimated Uncollectible Not due: $ 399,000 xx 1% $ 3,990 1 to 30: X 2% 31 to 60: X 5% 61 to 90: X 7% Over 90: 10% Estimated balance of allowance for uncollectibles $ 3,990
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