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Jiffy T-shirts uses the allowance method for accounts receivable. The Allowance for Doubtful Accounts has...

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Accounting

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Jiffy T-shirts uses the allowance method for accounts receivable. The Allowance for Doubtful Accounts has a $700 debit balance. The current aging of accounts receivables and allowance for doubtful accounts percents are provided below | Amount | Allowance % 1% 5% 8% 15% 3590 ue Current 1 to 30 days 31 to 60 days 61 to 90 days Over 90 days Total Accts Receivable 160,200 75.000 28,000 50,000 5,100 2,100 a) Fill in the missing entries in the table, then use to calculate Ending Allowance for Doubtful Accounts and Bad Debt Expense Davs Past Due Current 1 to 30 days 31 to 60 days 61 to 90 days Over 90 days Total Accts Receivable 160,200 Amount | Allowance % Allowed Amount 75,000 19% 28.000 | 5% 50,000 8% 5,100 | 1596 2.100 | 35% Ending Allowance for Doubtful Accounts: S Bad Debt Expense: $ b) Prepare the Dec 31 Journal entry to record bad debt expense Date Description Debit Credit Dec 31 c) Post your entry to the T-accounts Bad Debt Expense Allowance for Doubtful Accounts

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