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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
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 $ 580,000 $ 398,000 34 Days Past Due 1 to 30 31 to 60 $ 92,000 $ 38,000 45 79 61 to 90 $ 20,000 99 Over 90 $ 32,000 124 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 bed debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,800 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 $300 debit. Complete this question by entering your answers in the tabs below. Reg A Reg B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accours receivable. Estimated Uncollectible Accounts Percent Recevable Uncollectible (%) Not due 1 to 30 x 31 to 60 x 61 to 90 Over 90 Estimated balance of allowance for uncollectibles Req A Reg B and C 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 $3,800 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 $300 debit. Show less View transaction list Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,800 credit balance. Note: Enter debits before credits General Journal Debit Date December 31 Credit Record entry Clear entry View general Journal Req A Reg B and C 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 $3,800 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 $300 debit. Show less View transaction list Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $300 debit balance. Note: Enter debits before credits General Journal Debit Credit Date December 31 Record entry Clear entry View general journal
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