Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. finish both 1 and 2,. dhaliwal digital categoriz

finish both 1 and 2,. Dhaliwal Digital categorizes its accounts receivable into three...

90.2K

Verified Solution

Question

Accounting

image

finish both 1 and 2,.

Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectib accounts. 1. Accounts not yet due =$285,000; estimated uncollectible =5%. 2. Accounts 145 days past due =$39,600; estimated uncollectible =10%. 3. Accounts more than 45 days past due =$15,800; estimated uncollectible =15%. Before recording any adjustments, Dhaliwal has a debit balance of $71,100 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2024 balance for Dhaliwal's allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? Complete this question by entering your answers in the tabs below. Estimate the appropriate 12/31/2024 balance for Dhaliwal's allowance for uncollectible accounts

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students