DO not give answer in image Presented below is an aging schedule for Sheridan Company at December 31, 2024.CustomerAneeshBirdCopeDeSpearsOthersEstimated percentageuncollectibleTotal estimated bad debtsTotal$24,10032,60053,50034.300121,500$266,000$41,728Not YetDue$32,6004,90072.500$110.0003%$3,3001-3031-60$9.100 $15,0005,30035,100Number of Days Past Due$49,50013,90061-9012%$43,300$28.900 $43,30026%Over90$34.300$34,300At 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 previouspart.)eTextbook and MediaBad Debt ExpenseAllowance for Doubtful Accounts

Bad debt expense :— It is the amount of receivable that are no longer collectible from customer.…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Remnant Carpet Company sells and installs commercial carpeting for office buildings. Remnant Carpet Company uses a job order cost system. When a prospective customer asks for a price quote on a job, the estimated cost data are inserted on an unnumbered job cost sheet. If the offer is accepted, a number is assigned to the job, and the costs incurred are recorded in the usual manner on the job cost sheet. After the job is completed, reasons for the variances between the estimated and actual costs are noted on the sheet. The data are then available to management in evaluating the efficiency of operations and in preparing quotes on future jobs. On October 1, Remnant Carpet Company gave Jackson Consulting an estimate of $2,464 to carpet the consulting firm’s newly leased office. The estimate was based on the following data: Estimated direct materials: 40 meters at $30 per meter $ 1,200 Estimated direct labor: 16 hours at $20 per hour 320 Estimated factory overhead (75% of…