Business, 24.09.2020 18:01 anjumuddin9

QS 7-9 Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $115,200 $80,000 $18,000 $7,200 $4,000 $6,000 Percent uncollectible 1% 3% 5% 8% 11% 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1,000 credit.

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QS 7-9 Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw material...

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