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Required Information Use the following information for the Exercises 14-15 below. (Algo) (The following information applies to the questions displayed below.) Daley Company prepared the
Required Information Use the following information for the Exercises 14-15 below. (Algo) (The following information applies to the questions displayed below.) Daley Company prepared the following aging of receivables analysis at December 31. Days Pant Due Total 1 to 30 31 to 60 61 to 90 Over 90 $ $ Accounts receivable 615,000 405,000 $ 99,000 $ 45,000 $ 27,000 $ 39,000 Percent 18 28 58 78 uncollectible 108 Exercise 9-14 (Algo) Aging of receivables method LO P3 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 bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4,500 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 $1000 debit. Complete this question by entering your answers in the tabs below. Req B Rega and c Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Percent Estimated Receivable x Uncollectible - Uncollectible Not due: 1 to 30: x 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles Reg A Req B and C > =
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