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Check my Roby Reg 2 Prepare the adjusting entry to record bad debts expense assuming the...
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis....
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Days Past Due Total $129,000 $84,000 1 to 30 31 to 60 61 to 90 over 90 $22,000 $9,000 $6,000 $8,000 Accounts receivable Percent uncollectible 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...
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...
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis....
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Total $115,200 Days Past Due 1 to 30 31 to 60 61 to 90 $18,000 $ 7,200 $4,000 38 58 88 0 $80,000 10 Accounts receivable Percent uncollectible Over 90 $6,000 11% 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in...
Unit Assesment 7- prepare a receivables aging This assessment addresses the following course objective(s): Record various...
Unit Assesment 7- prepare a receivables aging
This assessment addresses the following course
objective(s):
Record various business transactions in accordance with
generally accepted accounting principles.
In this assignment, we will estimate the amount for the
allowance account by analyzing and aging Accounts Receivable.
Wright Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Total Days Past Due 01-30 411,000 105000 29 1.109 000 Accounts receivable Percent uncollectible 31-60 515000 5%...
Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of...
Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 4% of credit sales b. Bad debts are estimated to be 3% of total sales c. An aging analysis estimates that 7% of year-end accounts receivable are uncollectible Adjusting entries (all dated December 31, 2015). (Round your final answers to the nearest whole dollar.) View transaction list View journal entry worksheet No Transaction...
The manager asks you to assist her with the data analytics on bad debts expense at...
The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Makeup of Current Assets 1,220,000 1,708,000 732,000 476,000 Cash Accounts Receivable Inventory Supplies Value ($) Accounts Receivable by Age Over 90 days past due 12,000 61-90 days past due 38,000 31-60 days past due 86,000 1-30 days past due 254,000 1.30 days past due Not yet due Not yet due 830,000...
Journalize the adjusting entry for bad debts at December 31, 2021. Post the adjusting entry for...
Journalize the adjusting entry for bad debts at December 31,
2021.
Post the adjusting entry for bad debts at December 31, 2021.
Journalize the 2022 transactions: (Credit account
titles are automatically indented when amount is entered. Do not
indent manually.)
1.
March 1, a $570 customer balance originating in 2021 is judged
uncollectible.
2.
May 1, a check for $570 is received from the customer whose
account was written off as uncollectible on March 1.
Post to the allowance account...
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...
Refer to the information in Exercise 9.8 to complete the following requirements. Exercise 9-9 a. Estimate...
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 the following...
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 Total $665,000 tal 0 $415,000 2% Accounts receivable Percent uncollectible 1 to 30 $109,000 3% 31 to 60 $55,000 61 to 90 $37,000 8% Over 90 $49,000 11% 6% ory a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of...
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Days Past Due Total $129,000 $84,000 1 to 30 31 to 60 61 to 90 over 90 $22,000 $9,000 $6,000 $8,000 Accounts receivable Percent uncollectible 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...
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...
Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Total $115,200 Days Past Due 1 to 30 31 to 60 61 to 90 $18,000 $ 7,200 $4,000 38 58 88 0 $80,000 10 Accounts receivable Percent uncollectible Over 90 $6,000 11% 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in...
Unit Assesment 7- prepare a receivables aging
This assessment addresses the following course
objective(s):
Record various business transactions in accordance with
generally accepted accounting principles.
In this assignment, we will estimate the amount for the
allowance account by analyzing and aging Accounts Receivable.
Wright Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Total Days Past Due 01-30 411,000 105000 29 1.109 000 Accounts receivable Percent uncollectible 31-60 515000 5%...
Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 4% of credit sales b. Bad debts are estimated to be 3% of total sales c. An aging analysis estimates that 7% of year-end accounts receivable are uncollectible Adjusting entries (all dated December 31, 2015). (Round your final answers to the nearest whole dollar.) View transaction list View journal entry worksheet No Transaction...
The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Makeup of Current Assets 1,220,000 1,708,000 732,000 476,000 Cash Accounts Receivable Inventory Supplies Value ($) Accounts Receivable by Age Over 90 days past due 12,000 61-90 days past due 38,000 31-60 days past due 86,000 1-30 days past due 254,000 1.30 days past due Not yet due Not yet due 830,000...
Journalize the adjusting entry for bad debts at December 31,
2021.
Post the adjusting entry for bad debts at December 31, 2021.
Journalize the 2022 transactions: (Credit account
titles are automatically indented when amount is entered. Do not
indent manually.)
1.
March 1, a $570 customer balance originating in 2021 is judged
uncollectible.
2.
May 1, a check for $570 is received from the customer whose
account was written off as uncollectible on March 1.
Post to the allowance account...
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...
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 the following aging of receivables analysis at December 31. Days Past Due Total $665,000 tal 0 $415,000 2% Accounts receivable Percent uncollectible 1 to 30 $109,000 3% 31 to 60 $55,000 61 to 90 $37,000 8% Over 90 $49,000 11% 6% ory a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of...
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