Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 61 to 90 $26,000 Total 1 to 30 31 to 60 Over 90 Accounts receivable Percent uncollectible $610,000 $404,000 $98,000 $44,000 $38,000 12% 3% 4% 7% 9% Exercise 7-8 Aging of receivables method LO P3 Allowance for Doubtful Accounts using aging of accounts a. Complete the below table to calculate the estimated balance 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 $4,400 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 $900 debit. Complete this question by entering your answers in the tabs below. Req B and C Req A Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Receivable Percent Uncollectible (%) Not due: X 1 to 30: 31 to 60 X 61 to 90 Over 90 Estimated balance of allowance for uncollectibles Req A Req 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 $4,400 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 $900 debit .. Show less View transaction list Journal entry worksheet 1 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $4,400 credit balance. Note: Enter debits before credits. General Journal Date Debit Credit Dec 31 Record entry Clear entry View general journal Req A Req B and C> Req A Req B and C repare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the una llowance for Doubtful Accounts is a $4,400 credit. repare the adjusting entry to record bad debts expense using the estimate from part a. Assume the una llowance for Doubtful Accounts is a $900 debit. View transaction list X Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $4,400 credit balance. 1 counts Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $900 debit balance. 2 Credit Hote journal entry has been entered Record entry Clear entry View general journal Req A Req B and C
