The following accounts receivable information pertains to Marshall Inc. Past-Due Accounts Percentage Category Receivable Total Uncollectible 0-30 days $96,550 8% 31-90 days 32,230 16% Over 90 days 25,170 37% Determine the estimated uncollectible bad debt from Marshall Inc. using the balance sheet aging of receivables method. Round final answer to two decimal places. Record the year-end adjusting journal entry for bad debt. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. Dec. 31 Accounts Receivable Allowance for Doubtful Accounts Bad Debt Expense Cash Sales Revenue

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Q: Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of…

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A: Required 1:

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A:

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A: The correct answer is Option (C).

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Q: The following accounts receivable information pertains to Marshall Inc. Past-Due Accounts Percentage…

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A: Given:

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Bad Debts

At the end of the accounting period, a financial statement is prepared by every company, then at that time while preparing the financial statement, the company determines among its total receivable amount how much portion of receivables is collected by the company during that accounting period.  

Accounts Receivable

The word “account receivable” means the payment is yet to be made for the work that is already done. Generally, each and every business sells its goods and services either in cash or in credit. So, when the goods are sold on credit account receivable arise which means the company is going to get the payment from its customer to whom the goods are sold on credit. Usually, the credit period may be for a very short period of time and in some rare cases it takes a year.