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QS 7-9 (Algo) Aging of receivables method LO P3 Net Zero Products, a wholesaler of...

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QS 7-9 (Algo) Aging of receivables method LO P3 Net Zero Products, a wholesaler of sustainable raw materials, prepares the following aging of receivables analysis. Days Past Due Accounts receivable Percent uncollectible Total $122,800 $82,000 1x 1 to 30 $20,000 31 to 60 61 to 90 $8,000 $5,000 53 8x Over 90 $ 7,000 115 1. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. 2. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $1.200 credit Complete this question by entering your answers in the tabs below. Required 1 Regard 2 Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. Accounts Porcent receivable uncollectibles Not du 1 10 30 31 to 50 x 51100 Over 90 Estimated bace of lace for comes Required 2 > o BH E 8

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