Tableau DA 7-2: Percent of sales method, percent of receivables method, and aging of receivables method LO P3 The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Makeup of Current Assets Cash Accounts Receivable Inventory Supplies Accounts Receivable by Age Over 90 days past due 61-90 days past due 31-60 days past due 1-30 days past due Not yet due $0 $200,000 $400,000 $600,000 $800,000 Accounts Receivable ($) Percent Uncollectible by Age Makeup of Total Sales Percent Uncollectible by Age Makeup of Total Sales 70% Cash Sales 60% 50% 40% Estimated Percent Uncollectible 30% Credit Sales 20% 10% Percent Uncollectible by Accounts 0% Credit Sales 1% Not yet due 1-30 days 31-60 days past due 61-90 days Over 90 days past due past due past due Accounts Receivable 5% +ableau 1. Estimate the balance of the Allowance for Doubtful Accounts using percent of sales method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for credit sales. 2. Estimate the balance of the Allowance for Doubtful Accounts using percent of receivables method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for accounts receivable. 3. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts. 1. Estimate the balance of the Allowance for Doubtful Accounts using percent of sales method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for credit sales. 2. Estimate the balance of the Allowance for Doubtful Accounts using percent of receivables method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for accounts receivable. 3. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 1. Estimate the balance of the Allowance for Doubtful Accounts using percent of sales method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for credit sales. 2. Estimate the balance of the Allowance for Doubtful Accounts using percent of receivables method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for accounts receivable. Show less 1. Estimate the balance of the Allowance for Doubtful Accounts 2. Estimate the balance of the Allowance for Doubtful Accounts Req 1 and 2 Req3 > Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts. Accounts receivable Percent uncollectible (%) x Not yet due: 1 to 30 X 31 to 60 61 to 90 X Over 90 X Estimated balance of allowance for uncollectibles