Time Ritrinining: 03:60:43 Sud Test s Question: 20 pts 8 of 6 (complete This Test: 110 pts possible 7 December 31, 2018 before any year end adjustments, the Accounts Receivable balance of Ene Technology Inc is $350,000 The Allowance for Lincollectible Accounts hasta 520 30 credit tance Ens Techogy pares the following ang schedule of Accounts Receivable Click the icon to view the aging schedule Read the requirements Requirement 1. Based on the aging of Accounts Receivable is the unadusted balance of the awarded to? Toshiba Top First calculate a revised allowance for uncollectible accounts amount ang Data Table Allowance for Uncollectible Accounts: Credit balance needed 1-30 31-60 61-00 Over 90 Subtotal Total Balance $350,000 Estimated uncomectible 1-30 Days $140 000 0.4 Age of Accounts 31-60 Days 51-90 Days $110.000 570.000 30% 50 Over 90 Days SIDO Print Less Unadjusted Dance Done Adjusting entry amount The current balances The cut balance December 31 in Allowance for Uncollectible Accounts should be 5 Thus the current lance of the allowance account is Windo 2 Danh maith Choose from any list or enter any number in the input fields and then continue to the next question 0:56 2021/620 w FV FO WERS 196 9 2 E u E R ETTER K S F ) -unts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? llectible accounts amount and the adjus Requirements his 1. Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low? 2. Make the entry required by the aging schedule Prepare a T-account for the allowance 3. Show how Erie Technology will report Accounts Receivable on its December 31 balance sheet. Print Done The current balance is Allowance for Uncollectible Accounts should be $ alance of the allowance account is inh the innerhet Diana Torrent for the annn number in the input fields and then continue to the next question. At December 31, 2018, before any year-end adjustments the Accounts Receivable balance of Erie Technology, Inc. is $350,000 The Allowance for Uncollectible for Accounts Receivable. (Click the icon to view the aging schedule ) Read the fequuremena Requirement 1. Based on the aging of Accounts Receivable is the unadjusted balance of the allowance account adequate? Too high? Too low? First, calculate a revised allowance for uncollectible accounts amount and the adjusting entry amount (Round to the nearest dollar) Allowance for Uncollectible Accounts: Credit balance needed 1-30 31-60 61-90 Over 90 Subtotal Less Unadjusted balance Adjusting entry amount The current balance is The credit balance at December 31 in Allowance for Uncollectible Accounts should be $ Thus the current balance of the allowance account is $ Dansiraman Mbon the ninthartha sain tehndi Dinnern Tent far the war Choose from any list or enter any number in the input fields and then continue to the next question. At December 31, 2018, before any year-end adjustments, the Accounts Receivable balance of Erie Technology, Inc. is $350,000 The Allow for Accounts Receivable EP (Click the icon to view the aging schedule.) Read the team rements muy on uyunu www wymy envuur vopurvu - Purwowarco First, make the entry required by the aging schedule. (Record debits first, then credits. Exclude explanations from any journal entries) Journal Entry Date Accounts Debit Credit Dec 31 Now, prepare a T-account for the allowance Allowance for Uncollectible Accounts Requirement 3. Show how Ene Technology will report Accounts Receivable on its December 31 Dalance sheet First show the single line presentation Choose from any list or enter any number in the input fields and then continue to the next question for Accounts Receivable E (Click the icon to view the aging schedule ) Read the requirements Allowance for Uncollectible Accounts Requirement 3. Show how Ene Technology will report Accounts Receivable on its December 31 balance sheet. First show the single line presentation Balance Sheet (Partial): Current assets: Now show the detail presentation Balance Sheet (Partial): Less Choose from any list or enter any number in the input fields and then continue to the next