Required information [The following information applies to the questions displayed below] Daley Company prepared the following...
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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 receivable Percent uncollectible Total $600,000 $ 402,000 1 to 30 $ 96,000 Days Past Due 31 to 601 61 $ 42,000 to 90 $ 24,000 Over 98 $ 36,000 1% 2% 5% 7% 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 $4,200 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 $700 debit 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. Not due 1 to 30, Accounts Receivable. x x Percent Uncollectible (%) Estimated Uncollectible 31 to 60 61 to 90 Over 90 Estimated balance of allowance for uncollectibles Req B and C > 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 $600,000 $ 402,000 1 to 30 $ 96,000 Days Past Due 31 to 601 61 $ 42,000 to 90 $ 24,000 Over 98 $ 36,000 1% 2% 5% 7% 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 $4,200 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 $700 debit 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. Not due 1 to 30, Accounts Receivable. x x Percent Uncollectible (%) Estimated Uncollectible 31 to 60 61 to 90 Over 90 Estimated balance of allowance for uncollectibles Req B and C >
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