Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31.   Performance Bike Co. Estimation of Uncollectible Accounts December 31 Age Interval Balance Estimated Uncollectible Accounts Percent Estimated Uncollectible Accounts Amount Not past due $736,000 1/2% $fill in the blank 1 1-30 days past due 81,000 2 fill in the blank 2 31-60 days past due 36,800 8 fill in the blank 3 61-90 days past due 26,500 16 fill in the blank 4 91-180 days past due 19,100 39 fill in the blank 5 Over 180 days past due 14,000 65 fill in the blank 6 Total $913,400

Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Estimate the proper balance of the allowance for doubtful accounts should be as of December 31.   Performance Bike Co. Estimation of Uncollectible Accounts December 31 Age Interval Balance Estimated UncollectibleAccounts Percent Estimated UncollectibleAccounts Amount Not past due $530,000 3/4% $fill in the blank 1 1-30 days past due 58,300 2 fill in the blank 2 31-60 days past due 26,500 6 fill in the blank 3 61-90 days past due 19,100 16 fill in the blank 4 91-180 days past due 13,800 38 fill in the blank 5 Over 180 days past due 10,100 80 fill in the blank 6 Total $657,800   $fill in the blank 7

ment/chec Show Me How Print Item Estimating Doubtful Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31, and a historical añalysis of the percentage of uncollectible accounts in each age category are as follows: Percent Age Class Balance Uncollectible Not past due $782,000 1/2 % 1-30 days past due 86,000 4 31-60 days past due 39,100 7 61-90 days past due 28,200 18 91-180 days past due 20,300 41 Over 180 days past due 14,900 80 $970,500 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31. Percent Estimated Uncollectible Age Class Balance Uncollectible Accounts Amount Not past due $782,000 1/2% 1-30 days past due 86,000 4 31-60 days past due 39,100 7

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,132,000 and sales for the year total $12,840,000. The allowance account before adjustment has a credit balance of $15,300. Bad debt expense is estimated at 1/4 of 1% of sales. The allowance account before adjustment has a credit balance of $15,300. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $49,000. The allowance account before adjustment has a debit balance of $9,200. Bad debt expense is estimated at 3/4 of 1% of sales. The allowance account before adjustment has a debit balance of $9,200. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $76,400. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above.

Entry for Uncollectible Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are given below. Age Interval Balance Estimated UncollectibleAccounts Percent   Estimated UncollectibleAccounts Amount Not past due $902,000 3/4 %   $6,765   1-30 days past due 99,200 2     1,984   31-60 days past due 45,100 6     2,706   61-90 days past due 32,500 18     5,850   91-180 days past due 23,500 42     9,870   Over 180 days past due 17,100 65     11,115   Total $1,119,400     $38,290   Assume that the allowance for doubtful accounts for Outlaw Bike Co. had a debit balance of $6,890 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31. Dec. 31   - Select -         - Select -

Question Content Area Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class PercentUncollectible Not past due 1%      1-30 days past due 5         31-60 days past due 25         61-90 days past due 35         Over 90 days past due 50         Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff IndustriesAging of Receivables Scheduleblank Customer Balance Not PastDue 1-30 DaysPast Due 31-60 DaysPast Due 61-90 DaysPast Due Over 90 DaysPast Due Subtotals 840,000 495,600 184,800 75,600 42,000 42,000 Conover Industries 18,100         18,100 Keystone Company 18,200       18,200   Moxie Creek Inc. 6,600     6,600     Rainbow Company 10,000   10,000       Swanson Company 23,100 23,100         Total receivables 916,000 518,700 194,800 82,200 60,200 60,100 Percentage uncollectible   1% 5% 25% 35% 50% Allowance for Doubtful…

Entry for Uncollectible Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are given below. Age Interval Balance Estimated UncollectibleAccounts Percent   Estimated UncollectibleAccounts Amount Not past due $878,000 3/4 %   $6,585   1-30 days past due 96,600 2     1,932   31-60 days past due 43,900 8     3,512   61-90 days past due 31,600 14     4,424   91-180 days past due 22,800 38     8,664   Over 180 days past due 16,700 75     12,525   Total $1,089,600     $37,642   Assume that the allowance for doubtful accounts for Outlaw Bike Co. had a debit balance of $6,775 as of December 31. Journalize the adjusting entry for uncollectible accounts as of December 31. If an amount box does not require an entry, leave it blank. Dec. 31   - Select - - Select -     - Select - - Select -

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $777,000 and sales for the year total $8,810,000. a. The allowance account before adjustment has a credit balance of $10,500. Bad debt expense is estimated at 3/4 of 1% of sales. b. The allowance account before adjustment has a credit balance of $10,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $33,600. c. The allowance account before adjustment has a debit balance of $5,700. Bad debt expense is estimated at 1/4 of 1% of sales. d. The allowance account before adjustment has a debit balance of $5,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $47,300. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ d. $ %24

Providing for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $1,162,000 and sales for the year total $13,170,000. The allowance account before adjustment has a credit balance of $15,700. Bad debt expense is estimated at 1/2 of 1% of sales. The allowance account before adjustment has a credit balance of $15,700. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $50,200. The allowance account before adjustment has a debit balance of $9,100. Bad debt expense is estimated at 1/4 of 1% of sales. The allowance account before adjustment has a debit balance of $9,100. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $75,500. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ c. $ d. $