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Required information [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 Req A Req B and C Complete this question by entering your answers in the tabs below. Accounts Receivable X Total $575,000 X a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,700 credit. X 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 $200 debit. Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles X X X Percent Uncollectible (%) Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. = 0 $397,000 = = 2% = = 1 to 30 $ 91,000 Estimated Uncollectible $ 3% 0 Days Past Due 31 to 60 $ 37,000 6% 61 to 90 $ 19,000 R and G 8% Over 90 $ 31,000 11%

Required information [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 Req A Req B and C Complete this question by entering your answers in the tabs below. Accounts Receivable X Total $575,000 X a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,700 credit. X 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 $200 debit. Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles X X X Percent Uncollectible (%) Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. = 0 $397,000 = = 2% = = 1 to 30 $ 91,000 Estimated Uncollectible $ 3% 0 Days Past Due 31 to 60 $ 37,000 6% 61 to 90 $ 19,000 R and G 8% Over 90 $ 31,000 11%

Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter14: Accounting For Uncollectible Accounts Receivable
Section: Chapter Questions
Problem 1AP
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! Required information [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 Req A Req B and C Complete this question by entering your answers in the tabs below. Accounts Receivable X Total $575,000 X a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,700 credit. XX 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 $200 debit. Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles X X Percent Uncollectible (%) 0 $397,000 Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. II - 2% 11 Reg A 1 to 30 $ 91,000 Estimated Uncollectible $ 3% Days Past Due 31 to 60 $ 37,000 0 6% 61 to 90 $ 19,000 8% Req B and C > Over 90 $ 31,000 11%
Transcribed Image Text:! Required information [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 Req A Req B and C Complete this question by entering your answers in the tabs below. Accounts Receivable X Total $575,000 X a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,700 credit. XX 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 $200 debit. Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles X X Percent Uncollectible (%) 0 $397,000 Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. II - 2% 11 Reg A 1 to 30 $ 91,000 Estimated Uncollectible $ 3% Days Past Due 31 to 60 $ 37,000 0 6% 61 to 90 $ 19,000 8% Req B and C > Over 90 $ 31,000 11%
Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 31 to 60 $ 37,000 Accounts receivable Percent uncollectible Req A Complete this question by entering your answers in the tabs below. Req B and C Total $575,000 View transaction list 1 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,700 credit. Journal entry worksheet 0 $ 397,000 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 $200 debit. 2% 2 Date December 31 1 to 30 $91,000 Note: Enter debits before credits. 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 $3,700 credit. 3% 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 $200 debit. General Journal Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,700 credit balance. 6% 61 to 90 $ 19,000 Debit 8% Over 90 $ 31,000 11% Credit Show less A
Transcribed Image Text:Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 31 to 60 $ 37,000 Accounts receivable Percent uncollectible Req A Complete this question by entering your answers in the tabs below. Req B and C Total $575,000 View transaction list 1 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,700 credit. Journal entry worksheet 0 $ 397,000 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 $200 debit. 2% 2 Date December 31 1 to 30 $91,000 Note: Enter debits before credits. 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 $3,700 credit. 3% 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 $200 debit. General Journal Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $3,700 credit balance. 6% 61 to 90 $ 19,000 Debit 8% Over 90 $ 31,000 11% Credit Show less A
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