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Problem 9-04A a-d (Video) Windsor Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Accounts receivable 207,100 77,900 45,600 40,000 25,100 % uncollectible 2% 5% 6% 9% Estimated Bad debts $ $ $ $ $ Over 120 $18,500 21% $ $ SHOW LIST OF ACCOUNTS LINK TO...
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FIUDICI DOTA Auviuco) Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Total 200,000 Number of Days Outstanding 31-60 61-90 91-120 46,000 39,000 23,000 4% 5% 8% 0-30 77,000 1% Accounts receivable % uncollectible Over 120 $15,000 20% Estimated bad debts (b) Prepare the year-end adjusting journal entry to record the bad debts using the...
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Wildhorse Inc. uses the allowance method to estimate
uncollectible accounts receivable. The company produced the
following aging of the accounts receivable at year-end.
Calculate the total estimated bad debts based on the below
information.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts receivable
166,400
71,700
37,800
32,600
15,700
$8,600
% uncollectible
1%
4%
5%
8%
20%
Estimated Bad debts
(b)
Prepare the year-end adjusting journal entry to record the bad
debts using the aged uncollectible accounts...
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Pearl Industries uses the allowance method of accounting for bad
debts. The company produced the following aging of the accounts
receivable at year-end.
Calculate the total estimated bad debts based on the
information below.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts receivable
$409,000
$246,000
$84,000
$43,000
$23,000
$13,000
% uncollectible
1%
4%
5%
8%
11%
Estimated bad debts
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in...
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CALCULATOR SALE HY INSUR E R - NT RESOURCES work with Video Problem 8-4A Bramble Corp. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. ors sults by Study Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Accounts receivable 227,100 84,200 49,900 43,000 28,200 % uncollectible 2% 5% 6% 9% Estimated bad debts Over 120 $21,800...
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Exercise 3-04 Assume the following information for Larkspur Corp Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $145,000 11,480 964,000 901,000 6,300 2,200 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are a Account Titles and Explanation Debit Credit (To record sales on account)...
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Assume the following information for Kingbird Corp.
Accounts receivable (beginning balance)
$161,000
Allowance for doubtful accounts (beginning balance)
11,500
Net credit sales
934,000
Collections
907,000
Write-offs of accounts receivable
5,700
Collections of accounts previously written off
1,700
Uncollectible accounts are expected to be 9% of the ending balance
in accounts receivable.
Prepare the entries to record sales and collections during the
period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Account Titles and...
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Question 9 The Marigold Corp. uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 5% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2021, and December 31, 2022, appear below: Net Credit Sales Accounts Receivable Allowance for Doubtful Accounts 12/31/2021 12/31/2022 $401,000 $537,000 90,000 130,000 4,300 Record the following events in 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in...
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Exercise 225 The Kingbird, Inc. uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 5% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2021, and December 31, 2022, appear below 12/31/2021 $417,500 12/31/2022 Net Credit Sales $550,000 85,000 Accounts Receivable 140,000 4,800 Allowance for Doubtful Accounts Record the following events in 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in...
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CALCULATOR PRINTER VERSION BALK Problem B-1A Sarasota Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable Calculate the total estimated bad debts on the below information Number of Days Outstanding Total 0-3031-60 61-90 91-120 Over 120 Accounts Receivable $388,000 $234,000 $82,000 $39,000 $21,000 $12,000 We uncollectible Estimated bad debts EHXSLF ACCOUNTS Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined...
Problem 9-04A a-d (Video) Windsor Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Accounts receivable 207,100 77,900 45,600 40,000 25,100 % uncollectible 2% 5% 6% 9% Estimated Bad debts $ $ $ $ $ Over 120 $18,500 21% $ $ SHOW LIST OF ACCOUNTS LINK TO...
FIUDICI DOTA Auviuco) Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Total 200,000 Number of Days Outstanding 31-60 61-90 91-120 46,000 39,000 23,000 4% 5% 8% 0-30 77,000 1% Accounts receivable % uncollectible Over 120 $15,000 20% Estimated bad debts (b) Prepare the year-end adjusting journal entry to record the bad debts using the...
Pearl Industries uses the allowance method of accounting for bad
debts. The company produced the following aging of the accounts
receivable at year-end.
Calculate the total estimated bad debts based on the
information below.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts receivable
$409,000
$246,000
$84,000
$43,000
$23,000
$13,000
% uncollectible
1%
4%
5%
8%
11%
Estimated bad debts
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in...
CALCULATOR SALE HY INSUR E R - NT RESOURCES work with Video Problem 8-4A Bramble Corp. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. ors sults by Study Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Accounts receivable 227,100 84,200 49,900 43,000 28,200 % uncollectible 2% 5% 6% 9% Estimated bad debts Over 120 $21,800...
Exercise 3-04 Assume the following information for Larkspur Corp Accounts receivable (beginning balance) Allowance for doubtful accounts (beginning balance) Net credit sales Collections Write-offs of accounts receivable Collections of accounts previously written off $145,000 11,480 964,000 901,000 6,300 2,200 Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable. Prepare the entries to record sales and collections during the period. (Credit account titles are a Account Titles and Explanation Debit Credit (To record sales on account)...
Assume the following information for Kingbird Corp.
Accounts receivable (beginning balance)
$161,000
Allowance for doubtful accounts (beginning balance)
11,500
Net credit sales
934,000
Collections
907,000
Write-offs of accounts receivable
5,700
Collections of accounts previously written off
1,700
Uncollectible accounts are expected to be 9% of the ending balance
in accounts receivable.
Prepare the entries to record sales and collections during the
period. (Credit account titles are automatically
indented when the amount is entered. Do not indent
manually.)
Account Titles and...
Question 9 The Marigold Corp. uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 5% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2021, and December 31, 2022, appear below: Net Credit Sales Accounts Receivable Allowance for Doubtful Accounts 12/31/2021 12/31/2022 $401,000 $537,000 90,000 130,000 4,300 Record the following events in 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in...
Exercise 225 The Kingbird, Inc. uses the allowance method in accounting for uncollectible accounts. Past experience indicates that 5% of accounts receivable will eventually be uncollectible. Selected account balances at December 31, 2021, and December 31, 2022, appear below 12/31/2021 $417,500 12/31/2022 Net Credit Sales $550,000 85,000 Accounts Receivable 140,000 4,800 Allowance for Doubtful Accounts Record the following events in 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in...
CALCULATOR PRINTER VERSION BALK Problem B-1A Sarasota Corp. uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable Calculate the total estimated bad debts on the below information Number of Days Outstanding Total 0-3031-60 61-90 91-120 Over 120 Accounts Receivable $388,000 $234,000 $82,000 $39,000 $21,000 $12,000 We uncollectible Estimated bad debts EHXSLF ACCOUNTS Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined...