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Calculate the estimated uncollectible accounts from the following aging analysis. b) Prep

Calculate the estimated uncollectible accounts from the following aging analysis. b) Prep

Calculate the estimated uncollectible accounts from the following aging analysis.

b) Prepare the adjusting journal entry. The unadjusted balance of the allowance account is $100 credit.

 

 

GROSS

REC.

ESTIMATED

% LOSS

AMOUNT NEEDED

IN ALLOW. ACCT

Not yet due

 

Days past due

1-30

31-60

61-90

Over 90 days

 

$5,200

 

 

2,000

820

200

160

 

3

 

 

4

10

20

50

 

Total Accts. Rec.

 

 

Tot. Required

in Allowance

 

 

12)

a) Calculate the estimated uncollectible accounts from the following aging analysis.

b) Prepare the adjusting journal entry. The unadjusted balance of the allowance account is $100 credit.

 

 

GROSS

REC.

ESTIMATED

% LOSS

AMOUNT NEEDED

IN ALLOW. ACCT

Not yet due

 

Days past due

1-30

31-60

61-90

Over 90 days

 

$4,000

 

 

2,500

900

600

300

 

2

 

 

3

12

25

40

 

Total Accts. Rec.

 

 

Tot. Required

in Allowance

Tripti 06-Dec-2019

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