Dynatech Ltd. prepares an aging schedule for its accounts receivable at the end of each...
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Dynatech Ltd. prepares an aging schedule for its accounts receivable at the end of each month and records bad debts expense monthly. The following selected information is from Dynatech's partial aging schedule at the end of July: Number of Days Outstanding Accounts Receivable Estimated Percentage Uncollectible 0-30 days $807,000 2% 31-60 days 321,000 6% 61-90 days 123,000 11% Over 90 days 76,000 24% Total $1,327,000 The unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,050. (c) In August, management determined that $43,990 of the outstanding receivables were specifically uncollectible. Prepare the journal entry to write off the uncollectible amount. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit
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