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Presented below is an aging schedule for Sheridan Company at December 31, 2024. Customer Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts Not Yet Due $41,728 Total $24,100 32,600 53,500 34.300 121,500 72.500 $266,000 $110.000 $49,500 $28.900 $43,300 $32.600 4,900 3% $3,300 1-30 $9.100 5,300 35,100 Number of Days Past Due $3,465 31-60 $15,000 13,900 12% 61-90 $43,300 26% Over 90 $34.300 $34,300 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800 U.O 59% 53,468 $11.258 $20.237 !! ..

Presented below is an aging schedule for Sheridan Company at December 31, 2024. Customer Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts Not Yet Due $41,728 Total $24,100 32,600 53,500 34.300 121,500 72.500 $266,000 $110.000 $49,500 $28.900 $43,300 $32.600 4,900 3% $3,300 1-30 $9.100 5,300 35,100 Number of Days Past Due $3,465 31-60 $15,000 13,900 12% 61-90 $43,300 26% Over 90 $34.300 $34,300 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800 U.O 59% 53,468 $11.258 $20.237 !! ..

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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Presented below is an aging schedule for Sheridan Company at December 31, 2024. Customer Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts Total $24,100 32,600 53,500 34.300 121,500 $266,000 $41,728 Not Yet Due $32,600 4,900 72.500 $110.000 3% $3,300 1-30 31-60 $9.100 $15,000 5,300 35,100 Number of Days Past Due $49,500 13,900 61-90 12% $43,300 $28.900 $43,300 26% Over 90 $34.300 $34,300 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800. 59% $3,465 53,468 $11.258 $20.237 !! ..
Transcribed Image Text:Presented below is an aging schedule for Sheridan Company at December 31, 2024. Customer Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts Total $24,100 32,600 53,500 34.300 121,500 $266,000 $41,728 Not Yet Due $32,600 4,900 72.500 $110.000 3% $3,300 1-30 31-60 $9.100 $15,000 5,300 35,100 Number of Days Past Due $49,500 13,900 61-90 12% $43,300 $28.900 $43,300 26% Over 90 $34.300 $34,300 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800. 59% $3,465 53,468 $11.258 $20.237 !! ..
(a2) Post the adjusting entry for bad debts at December 31, 2024. (Post entries in the order of journal entries presented in the previous part.) eTextbook and Media Bad Debt Expense Allowance for Doubtful Accounts
Transcribed Image Text:(a2) Post the adjusting entry for bad debts at December 31, 2024. (Post entries in the order of journal entries presented in the previous part.) eTextbook and Media Bad Debt Expense Allowance for Doubtful Accounts
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