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Show work Sarasota Ltd. has accounts receivable of $222,700 and an unadjusted debit balance in its allowance for doubtful accounts of s640 at March 31,
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Sarasota Ltd. has accounts receivable of $222,700 and an unadjusted debit balance in its allowance for doubtful accounts of s640 at March 31, 2021. An analysis of the accounts receivable shows these amounts: Month of Sale Amount March (0-30) $137,400 February (31-60) 24,200 January (61-90) 36,600 October-December (over 90) 24,500 The company's percentage estimates of its uncollectible accounts are as follows: Number of Days Estimated % Outstanding Uncollectible 1% 31-60 1096 61-90 30% Over 90 60% 0-30 Prepare an aging schedule to determine the total estimated uncollectibles at March 31, 2021. Number of Days Outstanding 0-30 Estimated % Uncollectible Estimated Uncollectible Amount S % % 31-60 61-90 % Over 90 % Total s! Prepare any required adjusting entry at March 31, 2021 to record bad debt expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Mar. 31 SHOW LIST OF ACCOUNTS What is the carrying amount of the receivables at March 31, 2021? Carrying amount SHOW LIST OF ACCOUNTS For this part only, assume instead that the unadjusted balance in the allowance for doubtful accounts when the amount is entered. Do not indent manually.) $960 credit. Prepare any required adjusting entry at March 31, 2021 to record bad debt expense. (Credit account titles are automatically indented Debit Credit Date Account Titles and Explanation Mar. 31Step by Step Solution
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