Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December A Assuming 1 (31.67 KiB) Viewed 12 times
question2-
Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December A Assuming 2 (24.84 KiB) Viewed 12 times
Cato Limited S General Ledger Reports A Balance In Accounts Receivable Of 361 000 At The End Of December A Assuming 3 (31.08 KiB) Viewed 12 times
Cato Limited's general ledger reports a balance in Accounts Receivable of $361,000 at the end of December. (a) Assuming that Allowance for Doubtful Accounts has a credit balance of $4,500 and that uncollectible accounts are determined to be $36,100 by aging the accounts, record the adjusting entry at December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit
Steering Ltd. has an Accounts Receivable amount of $340,200 and an unadjusted credit balance in Allowance for Doubtful Accounts of $9.700 at March 31. The company's accounts receivable and percentage estimates of its uncollectible accounts are as follows: Number of Days Outstanding 0-30 31-60 61-90 Over 90 Total Accounts Receivable $234,000 49,900 31,500 24,800 $340,200 Estimated Percentage Uncollectible 2% 10% 30% 50%
Prepare an aging schedule to determine the total estimated uncollectibles at March 31. Age of Accounts 0-30 days 31-60 days 61-90 days Over 90 days Amount $234,000 % 2% 49,900 10% 31,500 30% 24,800 50% $ $ Estimated Uncollectible 100
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