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Use the following information and complete required items 1-3 The accounts receivable listing of Housings Company shows the following on December 31, 2018 The general
Use the following information and complete required items 1-3 The accounts receivable listing of Housings Company shows the following on December 31, 2018 The general ledger showed a $450 credit balance in Allowance for Doubtful Accounts before adjustment Invoice date Name of customer Amount Seals Inc December 4, 2018 $750 Screen Corporation Screen Corporation August 11, 2018 425 December 11, 2018 475 Beal Inc December 14, 2018 200 September 16, 2018 July 4, 2018 March 3, 2018 Apes Inc Apes Inc 505 875 Window Inc. 625 Trail Corporation Spokes Inc Winter Corporation November 14, 2018 825 November 20, 2018 325 October 19, 2018 700 Required: 1. Prepare an aging of accounts receivable at December 31, 2018 2. Compute estimated loss based on the following Age (days) Estimated Loss Percentage 1% 1-30 2% 31-60 5% 61-90 91-120 10% 121-150 25% Over 150 50% 3. Pepare journal entry to record the bad debt expense for the year
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