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Title : (Solved) - Accounts Receivable Exercise 7-7 Aging Of Receivables Method Daley... - (1 Answer) | Transtutors Daley Company Prepared The Following
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(Solved) - Accounts Receivable Exercise 7-7 Aging Of Receivables Method Daley... - (1 Answer) | Transtutors Daley Company Prepared The Following
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Accounts Receivable Exercise 7-7 Aging of receivables method Daley Company estimates uncollectible accounts using the portion method at December 31. It prepared the following aging of receivables analysis. Days Past Due 1 to 30 31 to 60 Total Accounts receivable $570,000 $396,000 $90,000 0 61 to 90 Over 90 $18.000 $36,000 $30,000 ar Percent uncollectible 1 % 29% 5% 7% 10% Estimate the balance of the Allowance intended Doubtful Accounts using the aging of accounts receivable method. a. eds: b. Prepare the adjusting entry to file bad debts expense using the estimate from share a. Assume the unadjusted balance in the Allowance intended DoubtfulAccounts is a $3.600 credit. Post Ref. Date Accounts and Explanations Debit Credit Prepare the adjusting entry to file bad debts expense using the estimate from share a. Assume the unadjusted balance in the Allowance intended Doubtful Accounts is a $100 debit. c. Post. Accounts and Explanations Ref. Debit Credit Date
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