FINANCIAL/MANAGERIAL ACCOUNTING (ACC 124/125/201/202)cticeAssignmentGradebookORIONDownloadable eTextbooknmentCALCULATORFULL SCREENPRINTER VERSIONv (a)Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)4 ВАСKNEXTDateAccount TitlesDebitCreditDec. 31Bad Debts ExpenseDateExplanationRef.DebitCreditBalanceDec. 31 AdjustingAllowance for Doubtful AccountsDateExplanationRef.DebitCreditBalanceDec. 31 BalanceDec. 31 AdjustingSHOW LIST OF ACCOUNTSLINK TO TEXTAttempts: 0 of 15 usedSAVE FOR LATERSUBMIT ANSWERVersion 4.24.21.1acy Policy 1 O 2000-2021 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc. cticeAssignmentGradebookORIONDownloadable eTextbooknmentCALCULATORFULL SCREENPRINTER VERSION4 BACKNEXTProblem 9-03A a-c (Part Level Submission)Presented below is an aging schedule for Halleran Company.Number of Days Past DueNotOverCustomerTotalYet Due1-3031-6061-9090Anders$ 22,000$10,000 $12,000Blake40,000$ 40,000Coulson57,00016,0006,000$35,000Deleon34,000$34,000Others132,00096,00016,00014,0006,000$285,000 $152,000 $32,000$26,000 $35,000$40,000Estimated3%6%13%25%50%PercentageUncollectibleTotal Estimated BadDebts$ 3,380$ 8,750$ 38,610$ 4,560$ 1,920$20,000At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000.v (a)Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DebitCreditAccount TitlesDateVersion 4.24.21.1Dec. 31Privacy Policy 1 9 2000-2021 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.MacBook AirDIIDDF12F11F10F9FBF7

The bad debt expense is the estimated bad debts that are considered to be uncollectible in the…

"roblem 9-03A a-c (Part Level Submission) resented below is an aging schedule for Halleran Company. Number of Days Past Due Not Yet Due Over Customer Total 1-30 31-60 61-90 90 Anders $ 22,000 $10,000 $12,000 Blake 40,000 $ 40,000 Coulson 57,000 16,000 6,000 $35,000 Deleon 34,000 $34,000 Others 132,000 96,000 16,000 14,000 6,000 $285,000 $152,000 $32,000 $26,000 $35,000 $40,000 Estimated Percentage Uncollectible 3% 6% 13% 25% 50% Total Estimated Bad Debts $ 1,920 $ 8,750 $20,000 $ 38,610 $ 4,560 $ 3,380 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000. v (a) Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent Debit Credit Date Account Titles

"roblem 9-03A a-c (Part Level Submission) resented below is an aging schedule for Halleran Company. Number of Days Past Due Not Yet Due Over Customer Total 1-30 31-60 61-90 90 Anders $ 22,000 $10,000 $12,000 Blake 40,000 $ 40,000 Coulson 57,000 16,000 6,000 $35,000 Deleon 34,000 $34,000 Others 132,000 96,000 16,000 14,000 6,000 $285,000 $152,000 $32,000 $26,000 $35,000 $40,000 Estimated Percentage Uncollectible 3% 6% 13% 25% 50% Total Estimated Bad Debts $ 1,920 $ 8,750 $20,000 $ 38,610 $ 4,560 $ 3,380 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000. v (a) Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent Debit Credit Date Account Titles

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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Required information Exercise 23-9 (Algo) Segment elimination LO P4 [The following information applies to the questions displayed below] Suresh Company reports the following segment (department) income results for the year. Sales Expenses Avoidable Unavoidable Total expenses Income (loss) Department O Department P Department T Department M Department N $ 42,000 $ 80,000 Decision 16,300 57,000 73,300 $ 6,700 44,200 20,400 64,600 $ (22,600) Department o $ 76,000 Total $ 300,000 150,800 152,000 302,800 $ (2,800)
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t ces Exercise 6-5 (Algo) Compute the Margin of Safety [LO6-5] Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit Variable expense per unit Fixed expense per month Unit sales per month Required: 1. What is the company's margin of safety? $ 24 $ 16 $ 7,200 1,050 Note: Do not round intermediate calculations. 2. What is the company's margin of safety as a percentage of its sales? Note: Round your percentage answer to 2 decimal places (i.e. .1234 should be entered as 12.34). 1. Margin of safety (in dollars) 2. Margin of safety percentage %
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