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Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31 Days Past Due Accounts receivable Percent uncollectible Total $575,000 $397,000 24 1 to 30 $91,000 34 31 to 60 61 to 90 $37,600 $19,000 64 89 Over 90 $31,000 114 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the c. Prepare the adjusting entry to record bad debts expense using the estimate from part a Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,100 debit. Complete this question by entering your answers in the tabs below. Req A Reg B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles 3 Accounts receivable Percent uncollectible $575,000 $397,000 24 591,000 31 $37,000 6 $19,000 BS $31,000 114 Part 2 of 2 12.5 points a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,100 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,100 debit book Complete this question by entering your answers in the tabs below. References Rega Reg B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 4% of total accounts receivable to estimate un collectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles credt debit Journal entry worksheet 1 2 > ces Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $12,100 credit balance. Note: Enter debits before credits Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet -Book 1 2 ferences Record estimated bad debts assuming that Allowance for Doubtful Accounts has a $1,100 debit balance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal

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