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Schedule of Accounts Receivable by Age Customer's Total Not 1-30 31-60 61-90 Over Name yet days days days days 90 due past past past days
Schedule of Accounts Receivable by Age Customer's Total Not 1-30 31-60 61-90 Over Name yet days days days days 90 due past past past days due due due past due S. Milken 12,000 5,000 3,000 2,000 1,000 1,000 F. Filip 7,000 1,000 2,000 1,000 800 2,200 J. Riley 14,000 8,000 3,000 2,000 100 900 R. Cash 3,000 2,000 1,000 L. Faraday 8,000 1,000 7,000 Totals 44,000 17,000 16,000 5,000 1,900 4,100 Percent 2% 5% 10% 25% 40% Uncollectible (1) Calculate the amount of the Allowance for Doubtful Accounts that should appear on the December 31, current year, balance sheet. (2) Prepare the journal entry to record bad debts expense for the current year
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