Problem 9-04A a-d (Video) Whispering Inc. uses the allowance method to estimate uncollectible accoun

Problem 9-04A a-d (Video) Whispering Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of the accounts receivable at year-end. Calculate the total estimated bad debts based on the below information. Number of Days Outstanding Total 0–30 31–60 61–90 91–120 Over 120 Accounts receivable 276,800 92,000 60,700 53,300 38,600 $32,200 % uncollectible 1% 4% 5% 8% 20% Estimated Bad debts $ $ $ $ $ $ SHOW LIST OF ACCOUNTS LINK TO TEXT (b) Prepare the year-end adjusting journal entry to record the bad debts using the aged uncollectible accounts receivable determined in (a). Assume the current balance in Allowance for Doubtful Accounts is a $7,600 debit. (c) Of the above accounts, $4,700 is determined to be specifically uncollectible. Prepare the journal entry to write off the uncollectible account. (d) The company collects $4,700 subsequently on a specific account that had previously been determined to be uncollectible in (c). Prepare the journal entries necessary to restore the account and record the cash collection. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and Explanation Debit Credit (b) (c) (d) (To reverse write-off.) (To record collection of write off.) Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER

 

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