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! Required information Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3 (The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Expected Percent Uncollectible 1.35% Age of Accounts Receivable Not yet due 1 to days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due Accounts Receivable $ 800,000 320,000 64,000 32,000 12,800 2.10 6.60 33.25 69.00 Problem 7-3A (Algo) Part 2 2. Prepare the adjusting entry to record bad debts expense at December 31. (Round percentage answers to nearest whole percent. Do not round intermediate calculations.) View transaction list Problem 7-3A (Algo) Part 1 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Accounts Receivable Percent Uncollectible (#.##%) Estimated Uncollectible Not due: X = 1 to 30: X = 31 to 60: = 51 to 90: II Over 90: X = Estimated balance of allowance for uncollectibles $ 0 Journal entry worksheet 1 > Record the estimated bad debts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal ra

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