Cullumber Manufacturing Company had a $300 credit balance in Allowance for Doubtful Accounts at December 31, 2025, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Current Accounts 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Total Accounts Receivable (a) $110,000 19,500 12,500 7,000 9,200 $158,200 Estimated Percentage Account Titles and Explanation Uncollectible 1 % 3 % 7% 18 % 35 % Prepare the adjusting entry on December 31, 2025, to recognize bad debts expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit

Q: PR 12-4

A: Date Particulars Debit Amount Credit Amount 30-Jun Asset revaluation  $2,900     Accounts…

Q: please explain 120/360

A: Solution: Interest amount is computed using formula = Principal * Interest rate * time Where time is…

Q: P12.2 (c)

A: Ending Retained Earnings  = Beginning Retained Earnings  + Net income - dividend declared…

Q: can you also explain what part is a. b. and c. please

A: A budget is an estimate of amount which is prepared by the management for various planning and…

Q: THE SMITH COMPANY Using the business transactions below, complete T-accounts for the Smith Company.…

A: T Accounts    1. Cash Account Particular Debit Particular Credit         To capital A/c…

Q: E15.11

A: As posted multiple sub parts questions we are answering only first three sub parts kindly repost the…

Q: Question 8

A: When net credit sales is divided with average accounts receivable it results in receivable turnover…

Q: What is the answer to part b? Is it -1245? Is the sign negative or positive?

A: The inventory valuation includes two methods named as FIFO (First in First Out) and LIFO (Last in…

Q: What is the after announcment?  This is from question a.

A: Debt Value = $2,700,000Current Debt-to-equity ratio = 30%Increased Debt-to-equity ratio = 50%EBIT =…

Q: the difference between a W-4 form and W-2 form.

A: Form W-4: Employee’s withholding allowance certificate. This form is filled by employees for their…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: What is AAA (Section 1368(e))

A: The S corporation is a corporation that chooses to pass all income, losses, deductions, and all…

Q: E14.3 (b)

A: The cash flow statement is helpful for the stakeholders as they can identify the organization's…

Q: x8=h 0817×1= h

A: y= 4x + 180 y= 8x   To solve above equations to find the value of x and y

Q: Answer to Part C = 42250

A: Given, Maturity =10 Years Market interest rate: 6% Stated interest rate = 5%   Price of the bond is…

Q: rom where does 184.17 came in step 3

A: When a loan is taken then periodic payments has to be made. In this case and situation monthly…

Q: Section 1250 summary

A: Section 1250 of the United States Internal Revenue Code is a rule wherein IRS will tax a gain from…

Q: E12.17

A: Retained earnings refer to the amount earned by the organization till the date of preparation of the…

Q: E12.4

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: was due inancial State nc. should report

A:

Q: it say 1.33 is incorrect

A:

Q: Please describe a scenario that is modeled by the following scenario: .0574 (12-18) 1+ 12 385 145130…

A: The scenario represented using the given computation is the future value of the annuity.

Q: what is 2 plus eight ?

A: The given sentence "2 plus eight" can be symbolically represented as 2+8. Thus, 2+8 is 10.

Bad Debts

At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.  

Accounts Receivable

The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.