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Question 2[12 points] At year-end, December 31,2019 Dylex Corporation showed unadjusted balances of...

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Accounting

Question 2[12 points]
At year-end, December 31,2019 Dylex Corporation showed unadjusted balances of : $270,000 in Accounts Receivable; $3,900 credit in Allowance for Doubtful Accounts; and $750,000 in Sales. Dylex
Corporation prepared an aging analysis on December 31,2019, that estimated total uncollectible accounts to be $17,500.
Unadjusted balances at December 31,2020 were : $255,000 in Accounts Receivable; $3,000 debit in Allowance for Doubtful Accounts; and $825,000 in Sales. Uncollectible accounts are estimated to
be 4.5% of outstanding accounts receivable.
At December 31,2021, the General Ledger showed unadjusted balances of : $290,000 in Accounts Receivable; $3,200 debit in Allowance for Doubtful Accounts; and $1,050,000 in Sales. Uncollectible
accounts are estimated to be 2.5% of sales.
Use this information to prepare the 2019,2020, and 2021 year-end adjusting entries to estimate uncollectible accounts. Enter an appropriate description when entering the transactions in the journal.
Dates must be entered in the format dd/mmm (ie. January 15 would be 15Jan).
T-accounts have been provided for your calculations, but will not be marked.
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