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The following information is available regarding the outstanding accounts receivable of Mufu Contracting at September 30, 2020: Customer B. Axley T. Holton W. NIX C.
The following information is available regarding the outstanding accounts receivable of Mufu Contracting at September 30, 2020: Customer B. Axley T. Holton W. NIX C. Percy K. Willis Month of Credit Sale June July $ 25,000 $ @ $ 53,00 16,700 4,100 8 August September $ 26,000 11,90 7,200 8,900 0 11,500 67,300 *All services are performed on terms of n/30. Assume all sales occurred on the last day of the month. Mufu estimates bad debts using the following rates: Not yet 1 to 29 days past due 1% 30 to 59 days past due 4% due 0.5% 60 to 89 days past due 10% 90 to 119 days past due 203 Over 119 days past due SOR Required: a. Complete a Schedule of Accounts Receivable by Age at September 30, 2020 (Enter your "Percent uncollectible" answers in 1 decimal place.) Required: a. Complete a Schedule of Accounts Receivable by Age at September 30, 2020. (Enter your "Percent uncollectible" answers in 1 decimal place.) Accounts Receivable by Age at September 30, 2020 September August July June Not yet due 1 to 29 days past 30 to 59 days past 60 to 89 days past due due due Total Customer May 90 to 119 days past due B. Andey T Holton W Nix C. Percy K Willis Totals Percent uncollectible Estimated uncollectible accounts $ 0 $ 0 $ 0 $ 0 $ 0 % % % Check my w b. The Allowance for Doubtful Accounts showed an unadjusted balance on September 30, 2020, of $1,400 Record the adjusting entry at September 30, 2020, to estimate uncollectible accounts View transaction list Journal entry worksheet 1 Record the estimate for uncollectible accounts. Note: Enter debits before credits. Date General Journal Debit Credit Sept. 30
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