Exercise 7-13 (Algo) Calculate uncollectible accounts using the aging me 7-6] Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of est accounts. 1. Accounts not yet due = $104,000; estimated uncollectible = 15%. 2. Accounts 1-45 days past due = $14,400; estimated uncollectible = 20%. 3. Accounts more than 45 days past due = $5,700; estimated uncollectible = 25%. Before recording any adjustments, Dhaliwal has a debit balance of $25,700 in its allowance fo Required: 1. Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible acco 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts

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Exercise 7-13 (Algo) Calculate uncollectible accounts using the aging method; record adjustment [LO7-5,
7-6]
Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible
accounts.
1. Accounts not yet due = $104,000; estimated uncollectible = 15%.
2. Accounts 1-45 days past due = $14,400; estimated uncollectible = 20%.
3. Accounts more than 45 days past due = $5,700; estimated uncollectible = 25%.
Before recording any adjustments, Dhaliwal has a debit balance of $25,700 in its allowance for uncollectible accounts.
Required:
1. Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts.
2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts?
Required 1 Required 2
What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? (If no entry is required for a
transaction/event, select "No journal entry required" in the first account field.)
View transaction list
Journal entry worksheet
< 1
Record the adjustment to allowance for uncollectible accounts.
Note: Enter debits before credits.
Event
1
Record entry
General Journal
Clear entry
< Required 1
Debit
Credit
View general journal
Required 2
Transcribed Image Text:Exercise 7-13 (Algo) Calculate uncollectible accounts using the aging method; record adjustment [LO7-5, 7-6] Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due = $104,000; estimated uncollectible = 15%. 2. Accounts 1-45 days past due = $14,400; estimated uncollectible = 20%. 3. Accounts more than 45 days past due = $5,700; estimated uncollectible = 25%. Before recording any adjustments, Dhaliwal has a debit balance of $25,700 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? Required 1 Required 2 What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 Record the adjustment to allowance for uncollectible accounts. Note: Enter debits before credits. Event 1 Record entry General Journal Clear entry < Required 1 Debit Credit View general journal Required 2
Exercise 7-13 (Algo) Calculate uncollectible accounts using the aging method; record adjustment [LO7-5,
7-6]
Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible
accounts.
1. Accounts not yet due = $104,000; estimated uncollectible = 15%.
2. Accounts 1-45 days past due = $14,400; estimated uncollectible = 20%.
3. Accounts more than 45 days past due = $5,700; estimated uncollectible = 25%.
Before recording any adjustments, Dhaliwal has a debit balance of $25,700 in its allowance for uncollectible accounts.
Required:
1. Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts.
2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts?
Required 1 Required 2
Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts.
Balance in allowance for uncollectible accounts
< Required 1
Required 2 >
Transcribed Image Text:Exercise 7-13 (Algo) Calculate uncollectible accounts using the aging method; record adjustment [LO7-5, 7-6] Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due = $104,000; estimated uncollectible = 15%. 2. Accounts 1-45 days past due = $14,400; estimated uncollectible = 20%. 3. Accounts more than 45 days past due = $5,700; estimated uncollectible = 25%. Before recording any adjustments, Dhaliwal has a debit balance of $25,700 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? Required 1 Required 2 Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts. Balance in allowance for uncollectible accounts < Required 1 Required 2 >
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