Intermediate Accounting
1st Edition
ISBN: 9780132162302
Author: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Publisher: PEARSON
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Chapter 9, Problem 9.7E
Bad Debt Expense, Aging of
| Aging Category | Ending Balance | Percent Estimated Uncollectible |
| Current | $300,000 | 0% |
| 1-30 days past due | 620,000 | 12 |
| 31-60 days past due | 122,000 | 25 |
| 61-90 days past due | 173,500 | 70 |
| Ovor 90 days past duo | 63,000 | 90 |
The allowance for uncollectible accounts had a credit balance of $260,400 at the beginning of the year. During the year the company wrote off
Required
- a. Prepare all journal entries required to record the bad debt provision for the current year.
- b. Repeat part (a) assuming that the allowance for uncollectible accounts had a debit beginning balance of $23,545.
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Chapter 9 Solutions
Intermediate Accounting
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