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Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $2,550. Required: a. Prepare the adjusting
Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $2,550. Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. December 31, 2020. Accounts Receivable. $175,000 50,000 12,000 2,700 Age of Accounts Receivable. Not due (under 30 days) 1 to 30 days past due 31 to 60 days past due Over 60 days past due Expected Percentage Uncollectible 18 4 10% 60% View transaction list Journal entry worksheet < Record the estimate for uncollectible accounts. Note: Enter debits before credits Date: December 31, 2020 General Journal Debit Credit < Prev 7 of 10 Next >
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