Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Sage Hill Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year end

Sage Hill Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year end

Accounting

Sage Hill Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year end. The percentage estimates of bad debts are as follows: SAGE HILL MERCHANDISING Aged Schedule of Accounts Receivable No. of Days Estimated % Outstanding Amount Uncollectible 0-30 days $61.200 0.60% 31-60 days 26,100 6,30% 61-90 days 12.000 19.000 Over 90 days 5.000 51.00% $104,300 Using the information above for Manoir Merchandising.prepare the adjusting entry to record bad debt expense for each of the following independent situations:
The Allowance for Doubtful Accounts has an unadjusted $1,680 debit balance and the company uses the aging schedule to determine estimated uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.76.) Number of Days Outstanding 0-30 days SAGE HILL MERCHANDISING Aged Schedule of Accounts Receivable Estimated Estimated % Uncollectible Amount Uncollectible Accounts $61.200 0.60% S 31-60 days 26,100 6.30% 61-90 days 12.000 19.00% 5.000 51.00% Over 90 days $104,300 Debit Credit Date Account Titles and Explanation Der 31
31-ou days 20,100 0:3U70 61-90 days 12.000 19.0096 Over 90 days 5.000 51.00% $104,300 Debit Credit Date Account Titles and Explanation Dec 31
The Allowance for Doubtful Accounts has an unadjusted $1,680 credit balance and the company uses the aging schedule to determine estimated uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.76.) Debit Credit Date Account Titles and Explanation Dec. 31
The Allowance for Doubtful Accounts has an unadjusted $1.680 debit balance and management estimates that 5% of accounts receivable will be uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Credit Debit Date Account Titles and Explanation Dec. 31

Option 1

Low Cost Option
Download this past answer in few clicks

2.89 USD

PURCHASE SOLUTION

Already member?


Option 2

Custom new solution created by our subject matter experts

GET A QUOTE