FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2023, of $2,200
Required:
a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows.
December 31, 2023
Accounts Receivable
$148,000
43,000
10,000
2,400
View transaction list
Journal entry worksheet
< 1
Age of Accounts Receivable
Not due (under 30 days)
1 to 30 days past due
31 to 60 days past due
Over 60 days past due
Record the estimate for uncollectible accounts.
Note: Enter debits before credits.
Date
December 31,
3332
General Journal
Expected Percentage
Debit
Uncollectible
1%
4%
10%
60%
Credit
☆
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Transcribed Image Text:Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2023, of $2,200 Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. December 31, 2023 Accounts Receivable $148,000 43,000 10,000 2,400 View transaction list Journal entry worksheet < 1 Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due 31 to 60 days past due Over 60 days past due Record the estimate for uncollectible accounts. Note: Enter debits before credits. Date December 31, 3332 General Journal Expected Percentage Debit Uncollectible 1% 4% 10% 60% Credit ☆
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