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Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2023, of $1,950. Required: a. Prepare the adjusting entry
Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2023, of $1,950. Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. December 31, 2023 Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible $ 133,000 Not due (under 30 days) 1 % 38,000 1 to 30 days past due 4 % 9,000 31 to 60 days past due 10 % 2,100 Over 60 days past due 60 % Show how accounts receivable would appear on the December 31, 2024
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