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Sunland Company has accounts receivable of $100,300 at March 31, 2025. Credit terms are 2/10, n/30. At March 31, 2 $2,000 credit balance in Allowance
Sunland Company has accounts receivable of $100,300 at March 31, 2025. Credit terms are 2/10, n/30. At March 31, 2 $2,000 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2025 $71,300 11,800 9,100 8,100 $100,300 2024 $82,260 8,230 2,250 1,100 $93,840 Estimated Percentage Uncollectible 2 % 5 27 53 Sunland Compary has accounts receivable of $100,300 at March 31,2025 , Credit terms are 2/10,n/30. At March 31, 2023 , there is a $2,000 credit balance in Allowance for Doubtful Accounts prior to adjustment. The compary uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Prepare the adjusting entry at March 31, 2025, to record bad debt expense. (List debit entry before credit entrx. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually)
Sunland Company has accounts receivable of $100,300 at March 31, 2025. Credit terms are 2/10, n/30. At March 31, 2 $2,000 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2025 $71,300 11,800 9,100 8,100 $100,300 2024 $82,260 8,230 2,250 1,100 $93,840 Estimated Percentage Uncollectible 2 % 5 27 53
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