70.2K

Verified Solution

Link Copied!

All info provided in the question is there

The manager asks you to assist her with the data analytics on bad debts expense at year-end. To do this, you access the following Tableau Dashboard for your company. Accounts Receivable ($) Percent Uncollectible by Age 70% 50% 10% of 1.30 days 31-60 diys 6190 days Over 90 day past due post due. +abeau Makeup of Total Sales Percent Uncollectible by Accounts 1. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. 2. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit and use of the aging of accounts recelvables method. 3. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8,000 debit and use of the aging of accounts recelvables method. 4. Based on further analysis, assume we find that the percentages in the graphic "Percent Uncollectible by Age" are too high. When alerting the manager, she responds that this is intentional. What are the income statement impacts from the overstated percentages? Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $5,000 credit and use of the aging of accounts recelvables method. Journal entry worksheet Record the estimated bad debts. Note: Enter detits before credits. Make the adjusting entry to record Bad Debts Expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is an $8,000 debit and use of the aging of accounts receivables method. Journal entry worksheet

Answer & Explanation Solved by verified expert

See Answer