Complete the table to determine the Baddebt Expenses for the period. Villanueva, Inc. is a supplier of...

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Accounting

Complete the table to determine the Baddebt Expenses for theperiod.
Villanueva, Inc. is a supplier of supplies. The following is thestatus of accounts receivable ("Aging")
Maturity Intervals Balance Percent Amount
Non pastdue
345,000.00
2%
1- 30 days
96,000.00
4%
31-60 days
27,000.00
9%
61-90 days
22,000.00
15%
91-180 days
7,300.00
60%
Over180 days
5,500.00
85%
Totals
Assuming a credit balance of $3,050.00 on the counter account.(Allowancefordoubtfulaccounts.) How much should we affect theaccount?
Determine the net realizable value after adjustment.
Prepare the entries for the period adjustment.

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3.8 Ratings (298 Votes)

Maturity Intervals Balance a Percent b Amount a x b Non past due 345000 2 6900 1 30 days 96000 4 3840 3160 days 27000 9 2430 6190 days 22000 15 3300 91180 days 7300 60 4380 See Answer

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Maturity Intervals	Balance	Percent	Amount
Non pastdue	345,000.00	2%
1- 30 days	96,000.00	4%
31-60 days	27,000.00	9%
61-90 days	22,000.00	15%
91-180 days	7,300.00	60%
Over180 days	5,500.00	85%
Totals