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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 Part
Required Information The following information applies to the questions displayed below.) Daley Company prepared the following aging of receivables analysis at December 31 Days Part Die Total Accounts receivable Percent uncollectible $635,000 $400,000 1 to 30 $100,000 31 to 60 61 to 90 $49,000 $31,000 Over 90 $43,000 a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts recelvable. 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 $4,900 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 $1,400 debit. Complete this question by entering your answers in the tabs below. Reg A Reg B and C Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Percent Receivable Uncollectible (%) Not due: 1 to 30 31 to 60 x 61 to 90: x Over O x Estimated balance of allowance for uncollectibles S o Journal entry worksheet Record estimated bild debts assuming that allowance for Doubtful Accounts has a $4,900 credit balance. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 . Record entry Clear entry View general Journal Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $1,400 debit balance Enter debit before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal
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