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Will thumbs up, Need Req A B & C Required information Use the following information for the Exercises 14-15 below. (Algo) [The following information applies
Will thumbs up, Need Req A B & C
Required information Use the following information for the Exercises 14-15 below. (Algo) [The following information applies to the questions displayed below) Daley Company prepared the following aging of receivables analysis at December 31 Accounts receivable Percent uncollectible Total 3.500.000 0 $ 402,000 10 1 to 30 $ 96,000 20 Days Pant Due 31 to 60 $42.000 50 61 to 90 5 24,000 70 Over 90 $ 35,000 101 Exercise 7-14 (Algo) Aging of receivables method LO P3 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4.200 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from porta. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $700 debit. recelvable Complete this question by entering your answers in the tabs below. Red A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Accounts Porcent Estimated Receivable Uncollectible (%) Uncollectible Not due 1 10 30 X 31 to 60 x 61 to 90 Over 90: Estimated balance of allowance for uncollectibles Req Band C > Reg A Reg Band b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $4,200 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $700 debit. Show less View transaction list Journal entry worksheet 2 > Record estimated bad debts assuming that allowance for Doubtful Accounts has a $4,200 credit balance. Note: Enter debits before credits General Journal Debit Credit Date December 31 Record entry Clear entry View general Journal Step by Step Solution
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