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The aging of accounts receivable for Wholesale Animal Feed Company is shown below. Calculate the amount of each periodic
Posted: Mon Apr 25, 2022 7:57 am
by answerhappygod
- The Aging Of Accounts Receivable For Wholesale Animal Feed Company Is Shown Below Calculate The Amount Of Each Periodic 1 (27.15 KiB) Viewed 21 times
The aging of accounts receivable for Wholesale Animal Feed
Company is shown below. Calculate the amount of each periodicity range that is deemed to be uncollectible. The Allowance for Doubtful Accounts carries a credit balance of $1,135.00. After calculating the estimated uncollectible amounts, write the adjusting entry for the end of the current period. Est. Uncollectible Accts. Balance Percentage Amount Age Interval 850,000 3.50% Not past due 47,500 5.00% 1-30 days past due 31-60 days past due 21,750 10.00% 11,250 20.00% 61-90 days past due 5,065 30.00% 91-180 days past due 2,500 50.00% 181-365 days past due 1,145 95.00% Over 365 days past due 939,210 Total
JOURNAL ENTRY: date account debit credit What would the journal entry be if the allowance for doubtful accounts had a debit balance of $1,135.00 at the end of the period? JOURNAL ENTRY: 1 date account debit credit