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29 01:05:13 Mc Graw Hill Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Days Past Due 31 to 60 $ 7,500 Accounts receivable Percent uncollectible. Total $ 118,500 0 $ 81,000 Not dur 1 10 30 Accounts receivable 15 Complete this question by entering your answers in the tabs below. 1 to 30 $ 19,000 Percent uncollectible (5) 2% 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 $1,100 credit. Required 1 Required 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Estimated Uncollectible Prev 4% 61 to 90 $4,500 29 of 32 Over 90 $6,500 10% Next >

29 01:05:13 Mc Graw Hill Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Days Past Due 31 to 60 $ 7,500 Accounts receivable Percent uncollectible. Total $ 118,500 0 $ 81,000 Not dur 1 10 30 Accounts receivable 15 Complete this question by entering your answers in the tabs below. 1 to 30 $ 19,000 Percent uncollectible (5) 2% 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 $1,100 credit. Required 1 Required 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Estimated Uncollectible Prev 4% 61 to 90 $4,500 29 of 32 Over 90 $6,500 10% Next >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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29 01:05:13 Mc Graw Hill Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Days Past Due 31 to 60 $ 7,500 Accounts receivable Percent uncollectible. Required 1 Required 2 Total $ 118,500 0 $ 81,000 Not dur 110 30 73 15 Complete this question by entering your answers in the tabs below. 1 to 30 $ 19,000 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 $1,100 credit. Percent uncollectible (5) 2% Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts receivable Estimated Uncollectible Prev 4x 61 to 90 $4,500 29 of 32 Over 90 $6,500 10% Next >
Transcribed Image Text:29 01:05:13 Mc Graw Hill Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Days Past Due 31 to 60 $ 7,500 Accounts receivable Percent uncollectible. Required 1 Required 2 Total $ 118,500 0 $ 81,000 Not dur 110 30 73 15 Complete this question by entering your answers in the tabs below. 1 to 30 $ 19,000 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 $1,100 credit. Percent uncollectible (5) 2% Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts receivable Estimated Uncollectible Prev 4x 61 to 90 $4,500 29 of 32 Over 90 $6,500 10% Next >
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