Answer Happy

Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due 31 to 60 61 to 90 Over 90 $40,000 $22,000 $34,000 118 Accounts receivable Percent uncollectible Req A Total $590,000 $400,000 Req B and C a. Complete the below table 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 $4,000 credit. Complete this question by entering your answers in the tabs below. Accounts Receivable 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 $500 debit. 24 X X 1 to 30 $94,000 Percent Uncollectible (%) Not due: 1 to 30: 31 to 60 61 to 00: Over 90: Estimated balance of allowance for uncollectibles 30 Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. $ 68 84 0
Req A Req B and 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 $4,000 credit. 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 $500 debit. Show less A View transaction list Journal entry worksheet 2 Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $4,000 credit balance. Note: Enter debits before credits. Date Dec 31 Record entry General Journal Clear entry Debit Credit View general journal