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 Accounts receivable Percent uncollectible Total $575,000 0 $397,000 20 1 to 30 $91,000 38 31 to 60 $37,000 64 61 to 90 $19,000 84 Over 90 $31,000 118 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts recevable to estimate uncollectibles, instead of the aging of recelvables 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. Rega Reg B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts recevable to 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. Req A Req B and C 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 th Reg Band C > Required information 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 1 2 Record estimated bad debts assuming that allowance for Doubtful Accounts has a $12,100 credit balance. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Drou S. 14 Required information View transaction list Journal entry worksheet
