Question is attachedthxn for the heplealpgwlgapreciated iti31ptj13pit EOData tableAt September 30, 2022:Accounts ReceivableAllowance for Uncollectible AccountsMore infoNov 30Dec 31PrintDone$- X242,000(8,200)lesmurCCCtedData tableAccounts Receivable and aging schedule to be used at December 31, 2022Age of Accounts31-60 Days 61-90 Days Over 90 Days54,000 $ 12,000 $26,0002%15%35%Accounts Receivable$230,000Estimated percent uncollectibleWrote off as uncollectible the $1,200 account receivable from Cheap Carpets and the $600 accountreceivable from Old Timer Antiques.Adjusted the Allowance for Uncollectible Accounts and recorded uncollectible-account expense atyear-end, based on the aging of receivables.1-30 Days$ 138,000 $0.2%itPrintDonent receivable from Old Timer Antiques. The September 30, 2022, records of First Data Communications include these accounts:(Click the icon to view the September 30, 2022 account balances.)During the last quarter of 2022, the company completed the following selected transactions:i (Click the icon to view the selected transactions.)Requirement 2. Prepare a T-account for Allowance for Uncollectible Accounts with the appropriate beginning balance. Post the entries from Requirement 1 to that account.Open the T-account by posting the beginning balance. Then post the entries to the Allowance for Uncollectible Accounts T-account and calculate the ending balance.Allowance for Uncollectible AccountsLess:Requirement 3. Show how First Data Communications will report its accounts receivable in a comparative balance sheet for 2021 and 2022. (Use the three-line reporting format.) At December 31, 2021, the company'sAccounts Receivable balance was $214,000, and the Allowance for Uncollectible Accounts stood at $4,400 credit balance. (Be sure to use the Accounts Receivable balance at December 31, 2022 given in the problem data.)First Data CommunicationsComparative Balance Sheet (partial)December 31, 2022 and 2021During the year, First Data Communications estimates Uncollectible-account expense at 1% of creditsales. At year-end (December 31), the company ages its receivables and adjusts the balance in theAllowance for Uncollectible Accounts to correspond to the following aging schedule.(Click the icon to view the Accounts Receivable balance and aging schedule to be used atDecember 31, 2022.)Read the requirements.20222021

Provision for Uncollected Account Bad debts are accounts receivable, loans, or other liabilities…

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Business

Accounting

Question is attached thxn for the hepl ealpgwl gapreciated it i31ptj13pit

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 25E

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The shodule g8 aing accounts for a com Prny O1 Year 2020 Account rectuble $20,000 $ So00 at the Estimate bag Current 1-30 daysoverdue 3 1- 60 days ovedue more than 6odays overdue (% 5% to % 20% $2500 31 S00 The aliowance was estimeted by using the stheolole accounta. The allowanre count had a'Jebit balance of g400 befere tHe estimate was made Reouired Prefare the adjusting bat to record bad debt expense for 2 entry
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Current Attempt in Progress At December 1, 2022, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800 and collected accounts receivable of $37440. At December 31, 2022, the Accounts Receivable balance is O $64270 debit O $17470 debit O $26830 credit O $26830 debit Save for Later Attempts: 0 of 1 used Submit Answer
Required information Skip to question [The following information applies to the questions displayed below.]Daley Company prepared the following aging of receivables analysis at December 31. Total Days Past Due 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $ 645,000 $ 411,000 $ 105,000 $ 51,000 $ 33,000 $ 45,000 Percent uncollectible 1% 2% 5% 7% 10% a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable.b. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,100 credit.c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,600 debit.
Required information Skip to question [The following information applies to the questions displayed below.]Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $ 670,000 $ 416,000 $ 110,000 $ 56,000 $ 38,000 $ 50,000 Percent uncollectible 3 % 4 % 7 % 9 % 12 % a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method.b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $14,000 credit.c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a…
Required information Skip to question [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $ 640,000 $ 410,000 $ 104,000 $ 50,000 $ 32,000 $ 44,000 Percent uncollectible 3 % 4 % 7 % 9 % 12 % a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,500 debit.
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Required information Skip to question [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $ 640,000 $ 410,000 $ 104,000 $ 50,000 $ 32,000 $ 44,000 Percent uncollectible 3 % 4 % 7 % 9 % 12 % a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $13,400 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $2,400 debit.
A ezto.mheducation.com sijon 17A - Connect Data_Sales.xlsx: fa21cob204 Computer Information Systems Dashb on 1-7-6A - Connect Saved Help The accounts receivable balance for Renue Spa at December 31, Year 1, was $86,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,500. During Year 2, $1.900 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $130 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $211,000, and cash collections from receivables were $212,936. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required a. Record the transactions in general journal form and post to T-accounts. b. Based on the preceding information, compute (after year-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31,…
Current Attempt in Progress The Accounts Receivable account has a beginning balance of $48900 and an ending balance of $69600. If total sales on account were $39500 for the year, what were the total collections on account? $69600 O $79000 O $18800 O $60200 Save for Later Attempts: 0 of 1 used Submit Answer MacBook Air DII DD 000
E. Accounts receivable P 60,000 Allowance for doubtuful accounts 350 (credit balance) Doubtul of collection % 2% 1. Provide Adjusting Entries by the year end Dec. 31, 2021
AliExpress Lazada a Agoda.com termediate Accounting 1.docx vabla Open with Google Docs 16. Apple Company determined that the net realizable value of its accounts receivable at December 31, 2020 based on aging of accounts recelvable was P3,160,000. Additional Information for 2020 Is as follows: Allowance for doubtful accounts Jan. 1 Accounts recelvable December 31 Doubtful accounts written off during the year Doubtful accounts recovered during the year 500,000 4,800,000 320,000 70,000 What should be the doubtful accounts expense for 20207 a. 390,000 b. 480,000 c. 520,000 d. 460,000 17. Mulberry Company's allowance for doubtful accounts had a credit balance of P110,000 at December 31, 2019. Mulberry accrues doubtful accounts expense for 2020 amounting to P48,000 based on sales. During 2020, Mulberry write off accounts totaling P90,000. The aging of accounts receivable indicated that a P345,000 allowance for doubtful accounts was required at December 31, 2020. What amount of doubtful…