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. Days Past Due Total Accounts receivable Percent uncollectible $660,000 $414,000 1 to 30 31 to 60 $108,000 $54,000 61 to 90 $36,000 Over 90 $48,000 1% 216 5% 7% 10% 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 Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,400 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 $1,900 debit. 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 Due Total Accounts receivable Percent uncollectible $660,000 $414,000 1 to 30 31 to 60 $108,000 $54,000 61 to 90 $36,000 Over 90 $48,000 1% 216 5% 7% 10% 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 Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,400 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 $1,900 debit.
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