Homework Answers
1. Estimated balance allocated to doubtful accounts is $1320.
2. Provision for Doubtful Debts Dr. 1320
To BCC company. 174
To Lannister Co. 28
To Mike properties 816
To Ted reeves 112
To Jen steffen 190
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Following is a list of credit customers along with their amounts owed due and the days...
Following is a list of credit customers along with their amounts owed due and the days...
Following is a list of credit customers along with their amounts owed due and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Following is a list of credit customers along with their amounts owed due and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Days Past Due 0...
Following is a list of credit customers along with their amounts owed due and the days...
Following is a list of credit customers along with their amounts owed due and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Days Past Due 31 to 60 Over 90 9% 1 to 30 2% 61 to 90 6% 13% 4% Percent uncollectible Days Past Due 12 Accounts Receivable $5,500 2,500 6,500 1,200 3,500 Customer ВСС Соmрany Lannister Co. Mike Properties Ted Reeves Jen...
O LIVUues Jieuule LU P3 Following is a list of credit customers along with their amounts...
O LIVUues Jieuule LU P3 Following is a list of credit customers along with their amounts owed due and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. 1 to 30 Days Past Due 31 to 60 61 to 90 8% Percent uncollectible 38 Over 90 12 5% Days Past Due 11 Customer BCC Company Lannister Co. Mike Properties Ted Reeves Jen Steffens Accounts Receivable...
The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,900,000...
The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,900,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $21,359. 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 that will become uncollectible. This information is summarized here. December 31, 2017 Accounts Receivable $...
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 1 to 30 $104,000 31 to 60 61 to 90 Over 90 Accounts receivable $640,000 $32,000 7 $410,000 $50,000 $44,000 12 Percent uncollectible 31 4% 91 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...
[The following information applies to the questions displayed below.] At December 31, 2018, Hawke Company reports...
[The following information applies to the questions
displayed below.]
At December 31, 2018, Hawke Company reports the following results
for its calendar year.
Required information (The following information applies to the questions displayed below.] At December 31, 2018, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,478,710 3,022,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $915,666 debit 20,920 debit Required: 1. Prepare the adjusting entry...
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 DueTotal0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable$585,000$399,000$93,000$39,000$21,000$33,000Percent uncollectible 1%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. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,900 credit. c. Prepare the adjusting entry to record bad debts...
The manager asks you to assist her with the data analytics on bad debts expense at...
The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Makeup of Current Assets 1,220,000 1,708,000 732,000 476,000 Cash Accounts Receivable Inventory Supplies Value ($) 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...
Chapter 07 Homework i Saved Part 1 of 2 Required information The following information applies to...
Chapter 07 Homework i Saved Part 1 of 2 Required information The following information applies to the questions displayed below. Jarden Company has credit sales of $2,600,000 for year 2018. On December 31, 2018, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $20,814. Jarden prepares a schedule of its December 31, 2018, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible....
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...
Following is a list of credit customers along with their amounts owed due and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. Days Past Due 31 to 60 Over 90 9% 1 to 30 2% 61 to 90 6% 13% 4% Percent uncollectible Days Past Due 12 Accounts Receivable $5,500 2,500 6,500 1,200 3,500 Customer ВСС Соmрany Lannister Co. Mike Properties Ted Reeves Jen...
O LIVUues Jieuule LU P3 Following is a list of credit customers along with their amounts owed due and the days past due at December 31. Following that list are five classifications of accounts receivable and estimated bad debts percent for each class. 1 to 30 Days Past Due 31 to 60 61 to 90 8% Percent uncollectible 38 Over 90 12 5% Days Past Due 11 Customer BCC Company Lannister Co. Mike Properties Ted Reeves Jen Steffens Accounts Receivable...
The following information applies to the questions displayed below.) Jarden Company has credit sales of $2,900,000 for year 2017. On December 31, 2017, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $21,359. 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 that will become uncollectible. This information is summarized here. December 31, 2017 Accounts Receivable $...
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 1 to 30 $104,000 31 to 60 61 to 90 Over 90 Accounts receivable $640,000 $32,000 7 $410,000 $50,000 $44,000 12 Percent uncollectible 31 4% 91 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...
[The following information applies to the questions
displayed below.]
At December 31, 2018, Hawke Company reports the following results
for its calendar year.
Required information (The following information applies to the questions displayed below.] At December 31, 2018, Hawke Company reports the following results for its calendar year. Cash sales Credit sales $1,478,710 3,022,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable Allowance for doubtful accounts $915,666 debit 20,920 debit Required: 1. Prepare the adjusting entry...
Daley Company prepared the following aging of receivables analysis at December 31.Days Past DueTotal0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable$585,000$399,000$93,000$39,000$21,000$33,000Percent uncollectible 1%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. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $3,900 credit. c. Prepare the adjusting entry to record bad debts...
The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Makeup of Current Assets 1,220,000 1,708,000 732,000 476,000 Cash Accounts Receivable Inventory Supplies Value ($) 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...
Chapter 07 Homework i Saved Part 1 of 2 Required information The following information applies to the questions displayed below. Jarden Company has credit sales of $2,600,000 for year 2018. On December 31, 2018, the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $20,814. Jarden prepares a schedule of its December 31, 2018, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible....
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...
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