these are the info that the graphs provided makeup of current assets cash $732,000 accounts receivable $1,220,000 inventory $1,708,000 supplies $476,000 accounts receivable by age over 90 days due $12,000 61 90 days past due $38,000 31 60 days due $86,000 1 30 days past due $254,000 not yet due $830,000 percents uncollectible by age not yet due 2 , 1 30 days past due 3 , 31 60 days past due 7 , 61 90 days past due 33 , over 90 days pat due 68 past due makeup of total sales cash sales 2,250,000 credit sales $7,150,000 percent uncollectible by accounts credit sales 1 accounts receivable 5 A Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable b Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit and use of the aging of accounts receivables method c Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8,000 debit and use of the aging of accounts receivables method d Based on further analysis, assume we find that the percentages in the graphic Percent Uncollectible by Age are too high When alerting the manager, she responds that this is intentional What are the income statement impacts from the overstated percentages Makeup of Current Assets Accounts Receivable Inventory Value ( $) Accounts Receivable by Age Over 90 days past due 61 90 days past due 3160 days past due 1 30 days past due Makeup of Total Sales Percent Uncollectible by Accounts Estimate the balance of the Allowarice for Doubtful Accounts using aging of accounts receivable Journal entry worksheet Note Enter debits before credits Ivote Enter dedits derore creaits Complete this question by entering your answers in the tabs below Based on further analysis, assume we find that the percentages in the graphic Percent Uncollectible by Age are too high When alerting the manager, she responds that this is intentional What are the income statement impacts from the overstated percentages

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these are the info that the graphs provided --makeup of current assets cash- $732,000 accounts receivable $1,220,000 inventory $1,708,000 supplies $476,000 ---accounts receivable by age

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these are the info that the graphs provided

--makeup of current assets

cash- $732,000 accounts receivable $1,220,000 inventory $1,708,000 supplies $476,000

---accounts receivable by age

over 90 days due $12,000 61-90 days past due $38,000 31-60 days due $86,000 1-30 days past due $254,000 not yet due $830,000

-- percents uncollectible by age

not yet due 2% , 1-30 days past due 3%, 31-60 days past due 7%, 61-90 days past due 33%, over 90 days pat due 68% past due

----makeup of total sales- cash sales #2,250,000 / credit sales $7,150,000

---- percent uncollectible by accounts / credit sales 1% / accounts receivable 5%

A. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable.

image text in transcribed

b. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit and use of the aging of accounts receivables method.

image text in transcribed

c. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8,000 debit and use of the aging of accounts receivables method

image text in transcribed d. Based on further analysis, assume we find that the percentages in the graphic Percent Uncollectible by Age are too high. When alerting the manager, she responds that this is intentional. What are the income statement impacts from the overstated percentages?

image text in transcribed

Makeup of Current Assets Accounts Receivable Inventory Value (\$) Accounts Receivable by Age Over 90 days past due 61.90 days past due 3160 days past due 1.30 days past due Makeup of Total Sales Percent Uncollectible by Accounts Estimate the balance of the Allowarice for Doubtful Accounts using aging of accounts receivable. Journal entry worksheet Note: Enter debits before credits. Ivote: Enter dedits derore creaits. Complete this question by entering your answers in the tabs below. Based on further analysis, assume we find that the percentages in the graphic "Percent Uncollectible by Age" are too high. When alerting the manager, she responds that this is intentional. What are the income statement impacts from the overstated percentages