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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
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 Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable Percent uncollectible: $ 650,000 $ 412,000 $ 106,000 $ 52,000 $ 34,000 $ 46,000 28 31 68 8 119 Exercise 7-14 (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 $5,200 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 $1,700 debit. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Receivable x Percent Uncollectible (%) Estimated Uncollectible Not due: x 1 to 30: x 31 to 60: x
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