Oriole Company has accounts receivable of $93,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,212 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company’s estimates of bad debts are as shown below.     Balance, March 31   Estimated PercentageUncollectible   Age of Accounts   2022   2021   Current   $65,300   $70,010   2 % 1–30 days past due   11,800   7,430   5   31–90 days past due   9,300   2,260   32   Over 90 days past due   7,100   1,130   47       $93,500   $80,830         Incorrect answer iconYour answer is incorrect. Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles   $Enter a dollar amount    eTextbook and Media List of Accounts       Partially correct answer iconYour answer is partially correct. Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

At January 1, 2024, ABC Company reported an allowance for bad debts with a $7,190 credit balance. During 2024, ABC wrote-off as uncollectible accounts receivable totaling $12,530. At December 31, 2024, ABC Company had accounts receivable totaling $325,000 and prepared the following aging schedule: Accounts Receivable not past due 1-39 days past due 40-79 days past due 80-119 days past due over 119 days past due total $167,000 $ 52,000 $ 69,000 $ 26,000 $ 11,000 $325,000 % Uncollectible 2% 8% 14% 22% 45% Calculate the amount of bad debt expense recorded by ABC Company for 2024.

Allowance for Doubtful Accounts has a credit balance of $843 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $13,733. Which of the following entries records the proper adjustment for Bad Debt Expense? Select the correct answer. debit Allowance for Doubtful Accounts, $12,890; credit Bad Debt Expense, $12,890 debit Bad Debt Expense, $12,890; credit Allowance for Doubtful Accounts, $12,890 debit Allowance for Doubtful Accounts, $14,576; credit Bad Debt Expense, $14,576 debit Bad Debt Expense, $14,576; credit Allowance for Doubtful Accounts, $14,576

On December 31, Cosgrove Corporation (a calendar year end corporation) reports an ending balance in accounts receivable (before any adjustments) of $240,000, and total credit sales of $2,900,000 for the year ended December 31, 2022. Crane and Co uses the allowance method to account for uncollectible accounts. Assume Allowance for Doubtful Accounts has an unadjusted balance of ($3,100). Compute the amount of bad debt expense that Cosgrove Corporation will record on December 31, assuming that they use the Percentage of Receivables method to estimate uncollectible accounts. Cosgrove prepared the following aging-of-receivables schedule: Age of Account Current 1-30 days past due 31-90 days past due 91-180 days past due Over 180 days past due Total Accounts Receivable Balance, Dec. 31 $150,000 41,200 26,400 16,200 6,200 $240,000 Estimated Uncollectible Percentage 2% 5% 20% 30% 50%