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Calculate the total estimated bad debts based on the below Information. Total 252,300 Accounts receivable %...
Instructions (a) Calculate the total estimated bad debts based on the above information. (b) Prepare the...
Instructions
(a) Calculate the
total estimated bad debts based on the above information.
(b) Prepare the
year-end adjusting journal entry to record the bad debts using the
allowance method and the aged uncollectible accounts receivable
determined in (a). Assume the current balance in Allowance for
Doubtful Accounts is a $3,000 credit.
(c) Of the above
accounts, $1,600 is determined to be specifically uncollectible.
Prepare the journal entry to write off the uncollectible
accounts.
(d) The company
subsequently collects $700 on...
Kingbird, Inc. uses the allowance method of accounting for bad debts. The company produced the following...
Kingbird, Inc. uses the allowance method of accounting for bad
debts. The company produced the following aging of the accounts
receivable at year-end.
(a)
Calculate the total estimated bad debts on the below
information.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts Receivable
$472,000
$308,000
$88,000
$45,000
$18,000
$13,000
% uncollectible
1%
4%
5%
9%
11%
Estimated bad debts
$
$
$
$
$
$
can anyone help me to solve p8.4 total estimated bad debts will be €31.600. P8.4 (LO...
can anyone help me to solve p8.4
total estimated bad debts will be €31.600. P8.4 (LO 21 Writing Ho Publishers, uses the allowance method to estimate un collectible accounts re- ceivable. The company produced the following aging of the accounts receivable at year-end (in thousands), Journalistrations related to be debts. Worksheet Total 200,000 Number of Days Outstanding 3 1-60 61-90 91-120 Over 120 46,000 39,000 23,000 15.000 4% 5% 8% 20% 0-30 77.000 1% Accounts receivable % uncollectible Estimated bad...
Wildhorse Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following...
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...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 The...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,400,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,904. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 (The...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 (The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,500,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,900. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 [The...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,200,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,666. Jarden prepares a schedule of its December 31, 2017 accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category...
Rianna.com uses the allowance method of accounting for bad debts. The company produced the following aging of the accou...
Rianna.com uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Over 120 Accounts receivable $377,000 $222,000 $90,000 $38,000 $15,000 $12,000 % uncollectible 1% 4% 5% 8% 10% Estimated bad debts $10,120 $2,220 $3,600 $1,900 $1,200 $1,200 Assume the unadjusted balance in Allowance for Doubtful Accounts is a $4,000 debit. (e) Assume that Rianna.com used 3% of total accounts receivable,...
Problem 9-04A a-d (Video) Windsor Inc. uses the allowance method to estimate uncollectible accounts receivable. The...
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...
Canarie Ltd. prepares an aging schedule for its accounts receivable at the end of each month...
Canarie Ltd. prepares an aging schedule for its accounts
receivable at the end of each month and records bad debts expense
monthly. The following selected information is from Canarie’s
partial aging schedule at the end of July:
Number of
Days
Outstanding
Accounts
Receivable
Estimated
Percentage
Uncollectible
0–30 days
$719,000
2%
31–60 days
326,000
6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
$1,244,000
The unadjusted balance in Allowance for Doubtful Accounts is a
credit of $13,000.
(a)
Your...
Instructions
(a) Calculate the
total estimated bad debts based on the above information.
(b) Prepare the
year-end adjusting journal entry to record the bad debts using the
allowance method and the aged uncollectible accounts receivable
determined in (a). Assume the current balance in Allowance for
Doubtful Accounts is a $3,000 credit.
(c) Of the above
accounts, $1,600 is determined to be specifically uncollectible.
Prepare the journal entry to write off the uncollectible
accounts.
(d) The company
subsequently collects $700 on...
Kingbird, Inc. uses the allowance method of accounting for bad
debts. The company produced the following aging of the accounts
receivable at year-end.
(a)
Calculate the total estimated bad debts on the below
information.
Number of Days Outstanding
Total
0–30
31–60
61–90
91–120
Over 120
Accounts Receivable
$472,000
$308,000
$88,000
$45,000
$18,000
$13,000
% uncollectible
1%
4%
5%
9%
11%
Estimated bad debts
$
$
$
$
$
$
can anyone help me to solve p8.4
total estimated bad debts will be €31.600. P8.4 (LO 21 Writing Ho Publishers, uses the allowance method to estimate un collectible accounts re- ceivable. The company produced the following aging of the accounts receivable at year-end (in thousands), Journalistrations related to be debts. Worksheet Total 200,000 Number of Days Outstanding 3 1-60 61-90 91-120 Over 120 46,000 39,000 23,000 15.000 4% 5% 8% 20% 0-30 77.000 1% Accounts receivable % uncollectible Estimated bad...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,400,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,904. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 (The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,500,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,900. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category...
Required information Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3 [The following information applies to the questions displayed below.] Jarden Company has credit sales of $2,200,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,666. Jarden prepares a schedule of its December 31, 2017 accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category...
Rianna.com uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Over 120 Accounts receivable $377,000 $222,000 $90,000 $38,000 $15,000 $12,000 % uncollectible 1% 4% 5% 8% 10% Estimated bad debts $10,120 $2,220 $3,600 $1,900 $1,200 $1,200 Assume the unadjusted balance in Allowance for Doubtful Accounts is a $4,000 debit. (e) Assume that Rianna.com used 3% of total accounts receivable,...
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...
Canarie Ltd. prepares an aging schedule for its accounts
receivable at the end of each month and records bad debts expense
monthly. The following selected information is from Canarie’s
partial aging schedule at the end of July:
Number of
Days
Outstanding
Accounts
Receivable
Estimated
Percentage
Uncollectible
0–30 days
$719,000
2%
31–60 days
326,000
6%
61–90 days
121,000
11%
Over 90 days
78,000
23%
Total
$1,244,000
The unadjusted balance in Allowance for Doubtful Accounts is a
credit of $13,000.
(a)
Your...
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