Following is a list of credit customers along with their amounts owed and the days...
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Accounting
Following is a list of credit customers along with their amounts owed and the days past due at December 31. Also shown are five classifications of accounts receivable and estimated bad debts percent for each class. Days Past Due 0 1 to 30 31 to 60 61 to 90 Over 90 Percent uncollectible 2% 4% 6% 9% 13% Customer Accounts Receivable Days Past Due BCC Company $ 5,700 12 Lannister Company 2,700 0 Mike Properties 6,700 103 Ted Reeves 1,500 76 Jen Steffens 3,700 40 Create an aging of accounts receivable schedule of accounts receivable by age similar to the table given above.
***Calculate the estimated balance for the Allowance for Doubtful Accounts.
***Assuming an unadjusted credit balance of $270, record the required adjustment to the Allowance for Doubtful Accounts.
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