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 $575,000 $397,000 2% 1 to 3e $91,eee 3% 31 to 60 $37,000 6% 61 to 90 $19,000 8% Accounts receivable Percent uncollectible Over 90 $31,000 115 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 $3,700 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 $200 debit Complete this question by entering your answers in the tabs below. 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 $3,700 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 $200 debit Complete this question by entering your answers in the tabs below. Req A Reg Band Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Receivable Percent Uncollectible (%) X Not due 1 to 30 31 to 80: 61 in X Req A Req Band 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 Over 90 Estimated balance of allowance for uncollectibles $ 0 Req B and C> Req A Reg B and 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 $3,700 credit. 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 $200 debit. Show less View transaction list Journal entry worksheet Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,700 credit balance. Note: Enter debits before credits 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,700 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 $200 debit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal [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 $575,000 31 to 60 $37,600 Accounts receivable Percent uncollectible 1 to 3e $91,000 3% $397,000 2x 61 to 90 $19, eee 8% Over 90 $31, eee 11% a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method 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 $12,100 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 $1,100 debit Complete this question by entering your answers in the tabs below. Roq A Reg B and C Allowance for Doubtful Accounts is a $1,100 debit. Complete this question by entering your answers in the tabs below. Reg A Req Band Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles Red Req B and C > Reg A Red Band 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 $12,100 credit. 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 $1,100 debit. Show less View transaction list Journal entry worksheet
