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Check my work Required information Part 2 of 2 Use the following information for the Exercises below. [The following information applies to the questions displayed below.] 6.25 points Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Accounts receivable Percent uncollectible Total $620,000 0 $406,000 1 to 30 $100,000 31 to 60 61 to 90 $46,000 $28,000 Over 90 $40,000 eBook Print Exercise 9-9 Percent of receivables method LOP3 References a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. 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 $13,000 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 $2,000
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  • Fall '19
  • Doubtful Accounts, Uncollectibles, Daley Company

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