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stuck on this Required information [The following information applies to the questions displayed below) Daley Company prepared the following aging of receivables analysis at December
stuck on this
Required information [The following information applies to the questions displayed below) Daley Company prepared the following aging of receivables analysis at December 31 Accounts receivable Percent uncollectible Total $ 655,000 $ 413,000 3x 1 to 30 $107.000 43 Days Past Due 31 to 60 $ 53,000 2x 61 to 90 $ 35,000 9X Over 90 $ 47,000 12 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 $5,300 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 $1,800 debit Complete this question by entering your answers in the tabs below. Red A Reg B and Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts rareluat Reg A Reg B and c Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Estimated Uncollectible Accounts Percent Receivable X Uncollectible (%) Not due 1 to 30 X 31 to 60 x 61 to 90 Over 90 X Estimated balance of allowance for uncollectibles Req B and C > 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 $5,300 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 $1,800 debit. Show less View transaction list Journal entry worksheet Step by Step Solution
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