25 Required Information Use The Following Information For The Exercises 14 15 Below Static The Following Information 1 (34.37 KiB) Viewed 3 times
25 Required Information Use The Following Information For The Exercises 14 15 Below Static The Following Information 2 (43.98 KiB) Viewed 3 times
25 Required Information Use The Following Information For The Exercises 14 15 Below Static The Following Information 3 (30.74 KiB) Viewed 3 times
25 Required information Use the following information for the Exercises 14-15 below. (Static) [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 Total 0 $ 570,000 $ 396,000 18 1 to 30 $ 90,000 28 Days Past Due 31 to 60 $ 36,000 58 61 to 90 $ 18,000 7% Over 90 $ 30,000 10% Exercise 7-14 (Static) Aging of receivables method LO P3 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 $3,600 credit. 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 $100 debit.
Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts us receivable. Accounts Receivable Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles X X Percent Uncollectible (%) X X 11 = 115 Reg A Estimated Uncollectible 0 Req B and C >
Complete this question by entering your answers in the tabs below. Req A 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 $3,600 credit. 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 $100 debit. No 1 Req B and C 2 Date December 31 December 31 General Journal Bad debts expense Allowance for doubtful accounts Bad debts expense Allowance for doubtful accounts < Req A Rog B and C Debit Credit Show less A
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