E6-14(Algo) Recording and Reporting a Bad Debt Estimate Using Aging Analysis LO6-2 Casilda...
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EAlgo Recording and Reporting a Bad Debt Estimate Using Aging Analysis LO
Casilda Company uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on the basis of three time periods as follows: not yet due, $; up to days past due, $; and more than days past due, $ Experience has shown that for each age group, the average loss rate on the amount of the receivables at yearend due to uncollectibility is percent, percent, and percent, respectively. At December the end of the current year, the Allowance for Doubtful Accounts balance is $credit before the endofperiod adjusting entry is made.
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