Daley Company estimates uncollectible accounts using the allowance method on December 31. It prepared the following aging of receivables analysis. Total (Days Past Due) 0 (Days Past Due) (Days Past Due) 1 to 30 (Days Past Due) 31 to 60 (Days Past Due) 61 to 90 (Days Past Due) Over 90
Accounts receivable $620,000 $406,000 $100,000 $46,000 $28,000 $40,000
Percent uncollectible 2% 3% 6% 8% 11%

Required:
a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 6% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method.
b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,300 credit.
c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,300 debit.

1.)Seed drill is used for of the seeds.

2.)ploughing helps theof roots of the growing plants.

3.)Tilling of the soil is also called a .

4.)Manure and fertilizers are use ti maintain theof the soil.

5.)A most common weedicide is.

6.)After harvesting,grains are separated from the chaffand hay by or by using .

7.)The economial methods of irrigation areand.

8.)The wild plants which grow along with the main crop are called.

9.) Shifting of tiny plants from a nursery to the main field is called.

10.) Excess water and wet soil do not permit properof the seeds or roots of the plants.

Explanation:

1.)Seed drill is used for of the seeds.

2.)ploughing helps theof roots of the growing plants.

3.)Tilling of the soil is also called a .

4.)Manure and fertilizers are use ti maintain theof the soil.

5.)A most common weedicide is.

6.)After harvesting,grains are separated from the chaffand hay by or by using .

7.)The economial methods of irrigation areand.

8.)The wild plants which grow along with the main crop are called.

9.) Shifting of tiny plants from a nursery to the main field is called.

10.) Excess water and wet soil do not permit properof the seeds or roots of the plants.

Explanation: