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View Policies Show Attempt History Current Attempt in Progress Tamarisk, Inc. has accounts receivable of $96,500 at March 31, 2022 Credit terms are 2/10, 1/30.
View Policies Show Attempt History Current Attempt in Progress Tamarisk, Inc. has accounts receivable of $96,500 at March 31, 2022 Credit terms are 2/10, 1/30. At March 31, 2022, there is a $2,244 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage of receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. Balance, March 31 Estimated Percentage Age of Accounts 2021 Uncollectible Current $66,000 $79.900 2 % 1-30 days past due 13,000 7.930 5 31-90 days past due 10.600 2.540 30 Over 90 days past due 6,900 1.060 50 $96.500 $91.430 2022 (6) Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit thantennd Media
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