Question 5 - Proctoring Enabl.
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g Enabled: Exam \( \# 3 \) (Chapters 6 - 9)
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Daley Company prepared the following aging of receivables analysis at December 31.
\begin{tabular}{|c|c|c|c|c|c|c|}
\hline & Total & & & ays Past Due & & \\
\hline \begin{tabular}{l}
Accounts receivable \\
Percent uncollectible
\end{tabular} & \( \$ 625,000 \) & \( \$ 407,000 \) & \begin{tabular}{l}
1 to 30 \\
\( \$ 101,000 \) \\
48
\end{tabular} & \begin{tabular}{l}
31 to 60 \\
\( \$ 47,000 \) \\
78
\end{tabular} & \begin{tabular}{l}
61 to 90 \\
\( \$ 29,000 \)
\end{tabular} & \begin{tabular}{l}
Over 90 \\
\( \$ 41,000 \)
\end{tabular} \\
\hline
\end{tabular}
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 \( \$ 4,700 \) 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 \( \$ 1,200 \) debit.
Complete this question by entering your answers in the tabs below.
Req A
Req \( B \) and \( C \)
Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable.
\begin{tabular}{|c|c|c|c|c|c|}
\hline & \begin{tabular}{l}
Accounts \\
Receivable \\
\end{tabular} & \( x \) & \begin{tabular}{|c|}
Percent \\
Uncollectible (\%) \\
\end{tabular} & \( = \) & \begin{tabular}{c}
Estimated \\
Uncollectible
\end{tabular} \\
\hline \begin{tabular}{|ll}
Not due: \\
\end{tabular} & & \( x \) & & \( = \) & \\
\hline \( \ln 2 n \) & & \( \checkmark \) & & \( 1-1 \) & \\
\hline
\end{tabular}
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