# QS 7-9 Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw...

QS 7-9 Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Days Past Due Accounts receivable Percent uncollectible Total $115,200$80,000 1x 1 to 30 $18,000 3x 31 to 60$ 7,200 5% 61 to 90 $4,000 8 Over 90$ 6,000 11% 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit Complete this question by entering your answers in the tabs below. ces Reg 1 Reg 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Percent receivable uncollectible (0) Not due 1 to 30 31 to 60 X 61 to 90 X Over 90 Estimated balance of allowance for uncollectibles$ Req2 >

• ### 7 Assignment Exercise 7-7 Aging of receivables method LO P3 Daley Company estimates uncollectible accounts using...

7 Assignment Exercise 7-7 Aging of receivables method LO P3 Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. ints Days Past Due Skipped 1 Total $635,000 0$400,000 to 30 $103,000 31 to 60 61 to 90$49,000 $31,000 Over 90$43,000 Book Accounts receivable Percent uncollectible Hint Print references a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging...

• ### Daley Company prepared the following aging of receivables analysis at December 31 Days Past Due Total $585,000$3...

Daley Company prepared the following aging of receivables analysis at December 31 Days Past Due Total $585,000$399,000 1 to 30 31 to 60 61 to 90 Over 90 $93,000$39,000 $21,000$33,000 Accounts receivable Percent uncollectible & E 2 % 5% 7% 10% a. Complete the below table 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....

• ### Daley Company prepared the following aging of receivables analysis at December 31. Exercise 9-8 Aging of...

Daley Company prepared the following aging of receivables analysis at December 31. Exercise 9-8 Aging of receivables method P3 Days Past Due Total 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable............. Percent uncollectible ....... $570,000$396,000 $90,000 2%$36,000 5% $18,000 7%$30,000 1% 10% a. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable b. Prepare the adjusting entry to record bad debts expense using the estimate from part...

• ### Unit Assesment 7- prepare a receivables aging This assessment addresses the following course objective(s): Record various...

Unit Assesment 7- prepare a receivables aging This assessment addresses the following course objective(s): Record various business transactions in accordance with generally accepted accounting principles. In this assignment, we will estimate the amount for the allowance account by analyzing and aging Accounts Receivable. Wright Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Total Days Past Due 01-30 411,000 105000 29 1.109 000 Accounts receivable Percent uncollectible 31-60 515000 5%...

Refer to the information in Exercise 9.8 to complete the following requirements. Exercise 9-9 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4.5% of Percent of receivables total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. method b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the P3 unadjusted balance in the Allowance for Doubtful Accounts is a $12.000 credit. c. Prepare... • ### Required information The following information applies to the questions displayed below.) Daley Company prepared th... Required information The following information applies to the questions displayed below.) Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Accounts receivable Percent uncollectible Total$570,000 0 $396,000 1 to 30$90,000 28 31 to 60 61 to 90 $36,000$18,000 58 70 Over 90 $30,000 100 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4.5% of total accounts receivable to estimate uncollectibles, instead of the aging of... • ### Daley Company prepared the following aging of receivables analysis at December 31. Exercise 98 Days Post... Daley Company prepared the following aging of receivables analysis at December 31. Exercise 98 Days Post TO P3 11 30 31 61 90 Oro 5570.000$395.000 590.000 50.000 $13.000 Accounts receivable Percent collect$30.000 10 a. Estimate the balance of the 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....

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