Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five classifications of accounts receivable and estimated bad debts percent for each class. Percent uncollectible 0 1% 1 to 30 3% Days Past Due 31 to 60 5% 61 to 90 8% Over 90 12% Customer BCC Company Lannister Company Mike Properties Ted Reeves Jen Steffens Accounts Receivable Days Past Due $ 5,200 12 2,200 0 6,200 107 1,100 3,200 72 39 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $220, record the required adjustment to the Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. Estimated balance for Allowance for Doubtful Accounts
Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five classifications of accounts receivable and estimated bad debts percent for each class. Percent uncollectible 0 1% 1 to 30 3% Days Past Due 31 to 60 5% 61 to 90 8% Over 90 12% Customer BCC Company Lannister Company Mike Properties Ted Reeves Jen Steffens Accounts Receivable Days Past Due $ 5,200 12 2,200 0 6,200 107 1,100 3,200 72 39 1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. 2. Assuming an unadjusted credit balance of $220, record the required adjustment to the Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the estimated balance for the Allowance for Doubtful Accounts. Estimated balance for Allowance for Doubtful Accounts
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five
classifications of accounts receivable and estimated bad debts percent for each class.
Percent uncollectible
0
1%
1 to 30
3%
Days Past Due
31 to 60
5%
61 to 90
8%
Over 90
12%
Customer
BCC Company
Lannister Company
Mike Properties
Ted Reeves
Jen Steffens
Accounts
Receivable
Days Past Due
$ 5,200
12
2,200
0
6,200
107
1,100
3,200
72
39
1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the
estimated balance for the Allowance for Doubtful Accounts.
2. Assuming an unadjusted credit balance of $220, record the required adjustment to the Allowance for Doubtful Accounts.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the
estimated balance for the Allowance for Doubtful Accounts.
Estimated balance for Allowance for Doubtful Accounts](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F047a7e6a-f025-4b5b-ab83-4ffe14f69253%2F1f15b91f-119f-4fec-b325-e570f972b633%2F4wuook_processed.png&w=3840&q=75)
Transcribed Image Text:Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five
classifications of accounts receivable and estimated bad debts percent for each class.
Percent uncollectible
0
1%
1 to 30
3%
Days Past Due
31 to 60
5%
61 to 90
8%
Over 90
12%
Customer
BCC Company
Lannister Company
Mike Properties
Ted Reeves
Jen Steffens
Accounts
Receivable
Days Past Due
$ 5,200
12
2,200
0
6,200
107
1,100
3,200
72
39
1. Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the
estimated balance for the Allowance for Doubtful Accounts.
2. Assuming an unadjusted credit balance of $220, record the required adjustment to the Allowance for Doubtful Accounts.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above. Calculate the
estimated balance for the Allowance for Doubtful Accounts.
Estimated balance for Allowance for Doubtful Accounts
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