1. Complete the Accounts Receivable Aging Analysis for Motorola Company. The following accounts remain to be classified in order to finish the analysis. Account G. Williams F. T. Associates S. Charles J. Ivan A. Jacobs Due Date December 1 September 29 January 15 (next fiscal year) Amount $ 450 800 1,000 250 October 31 950 June 30 Required: a. Complete the aging analysis of accounts receivable. Motorola Company Analysis of Accounts Receivable by Age for the year ended December 31, 2012 Customer Account Total Not Yet Due 1-30 days overdue 31-60 days 61-90 days Over 90 days overdue overdue overdue Bal bf G. Williams F. T. Associates S. Charles J. Ivan $42,600 21,000 14,000 3,800 2,200 1,600 450 800 1,000 250 A. Jacobs 950 % Uncollectible 2% 5% 15% 30% 50% b. Prepare an analysis computing the estimated uncollectible accounts Percentage considered Allowance for uncollectible uncollectible 2% Amount асcounts Not yet due 1-30 days 31-90 days 61-90 days Over 90 days 5% 15% 30% 50% c. Prepare the journal entry to record the estimated bad debt expense for the year given that the Allowance for Bad Debts had a credit balance of $2,100. (Round to the nearest dollar.) Date Details F DR CR
1. Complete the Accounts Receivable Aging Analysis for Motorola Company. The following accounts remain to be classified in order to finish the analysis. Account G. Williams F. T. Associates S. Charles J. Ivan A. Jacobs Due Date December 1 September 29 January 15 (next fiscal year) Amount $ 450 800 1,000 250 October 31 950 June 30 Required: a. Complete the aging analysis of accounts receivable. Motorola Company Analysis of Accounts Receivable by Age for the year ended December 31, 2012 Customer Account Total Not Yet Due 1-30 days overdue 31-60 days 61-90 days Over 90 days overdue overdue overdue Bal bf G. Williams F. T. Associates S. Charles J. Ivan $42,600 21,000 14,000 3,800 2,200 1,600 450 800 1,000 250 A. Jacobs 950 % Uncollectible 2% 5% 15% 30% 50% b. Prepare an analysis computing the estimated uncollectible accounts Percentage considered Allowance for uncollectible uncollectible 2% Amount асcounts Not yet due 1-30 days 31-90 days 61-90 days Over 90 days 5% 15% 30% 50% c. Prepare the journal entry to record the estimated bad debt expense for the year given that the Allowance for Bad Debts had a credit balance of $2,100. (Round to the nearest dollar.) Date Details F DR CR
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
solve please.
Transcribed Image Text:1. Complete the Accounts Receivable Aging Analysis for Motorola Company.
The following accounts remain to be classified in order to finish the analysis.
Асcount
G. Williams
F. T. Associates
S. Charles
J. Ivan
A. Jacobs
Due Date
December 1
September 29
January 15 (next fiscal year)
October 31
Amount
$ 450
800
1,000
250
950
June 30
Required:
a. Complete the aging analysis of accounts receivable.
Motorola Company Analysis of Accounts Receivable by Age for the year ended December 31, 2012
Customer Account Total
Not Yet Due
1-30 days
31-60 days
61-90 days
Over 90 days
overdue
overdue
overdue
overdue
Bal bf
G. Williams
$42,600
21,000
14,000
3,800
2,200
1,600
450
F. T. Associates
S. Charles
J. Ivan
800
1,000
250
A. Jacobs
950
% Uncollectible
2%
5%
15%
30%
50%
b. Prepare an analysis computing the estimated uncollectible accounts
Amount
Percentage considered Allowance for uncollectible
uncollectible
асcounts
Not yet due
1-30 days
31-90 days
61-90 days
Over 90 days
2%
5%
15%
30%
50%
c. Prepare the journal entry to record the estimated bad debt expense for the year given that the Allowance
for Bad Debts had a credit balance of $2,100. (Round to the nearest dollar.)
Date
Details
F
DR
CR
国
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education