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Complete the table to determine the Baddebt Expenses for the period. Villanueva, Inc. is a supplier of...

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Accounting

Complete the table to determine the Baddebt Expenses for theperiod.

Villanueva, Inc. is a supplier of supplies. The following is thestatus of accounts receivable ("Aging")

Maturity IntervalsBalancePercentAmount

Non pastdue

345,000.00

2%

1- 30 days

96,000.00

4%

31-60 days

27,000.00

9%

61-90 days

22,000.00

15%

91-180 days

7,300.00

60%

Over180 days

5,500.00

85%

Totals

Assuming a credit balance of $3,050.00 on the counter account.(Allowancefordoubtfulaccounts.) How much should we affect theaccount?
Determine the net realizable value after adjustment.
Prepare the entries for the period adjustment.

Answer & Explanation Solved by verified expert
3.8 Ratings (298 Votes)
Maturity Intervals Balance a Percent b Amount a x b Non past due 345000 2 6900 1 30 days 96000 4 3840 3160 days 27000 9 2430 6190 days 22000 15 3300 91180 days 7300 60 4380    See Answer
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