18 the accounts receivable balance for Midas Company is $750,000. The alleowice e has a...
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18 the accounts receivable balance for Midas Company is $750,000. The alleowice e has a $10,000 credit balance. Midas Company prepares the following ging 31,2018 The allowance for schedule for it receivable current 3160 61-90 over 500,000 s100,000 90,000 60,000 90 mated percent uncollectible $500,000 s 8% Age of Accounts Receivable 13% 40% 1-30 31-61- Over Tota Days 60 9 90Receivables Days Days Days Accounts Receivable Percent uncollectible Estimated total on he basis of the aging 1. Journalize chedule e the ear end adjusting entry for bad debts accou year end adjusting entry for bad debts accounts on the basis of the aging General Journal Credit Debit Date Accounts 2. If Midas Compan journal entry for bad debts at year end using the allowance method y had credit sales of $1,700,000 and estimates bad debts based on 3% of credit sales record the General Journal Debit Credit Accounts Date
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