WileyPLUS El ASSIGNMENT RESOURCES lliz 4 Ch.7 01 8 Wlle PLUS Problem 7-2 Problem 777A Problem a-lA Problem ass Review Score Review Results by study...

Questions for accounting 101. Hope you can explain it.

Better with excel file.

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WileyPLUS El ASSIGNMENT RESOURCESlliz 4 Ch.7 01 8Wlle PLUS Problem 7-2Problem 777AProblem a-lA Problem ass Review Score Review Results by studyObiective Kimmel, Financial Accounting, Seventh Canadian Edition MESSAGE m mSmucroR STANDARD vxew mums: VERSION Problem 8-5AAn aging analysis of Crown Point Limited’s accounts receivable at December 31, 2018 and 2017, showed the following: Accounts Receivable Estimated Number of Days Percenta e outstanding 2018 2017 Uncollecti Ie0-30 days $297,600 $321,500 3%31—60 days 63,600 114,900 6%61-90 days 86,600 76,300 12%Over 90 days 131,200 49,800 24% Total $579,000 $562,500 Additional Information: 1. At December 31, 2017, the unadjusted balance in Allowance for Doubtful Accounts was a credit of $9,800. 2. In 2018, $42,400 of accounts were written off as uncullectible and $3,300 of accounts previously written off were recovered. Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2017 and 2018. Note that the estimated percentages uncollectible are the same for both years. Total estimated allowance balance at Dec. 31, 2017: EstimatedNumber of Days Accounts Percentage Eoutstanding Receivable Unco Iect Ie Uncoliectl0-30 days $321,500 3% $l31—50 days 114,900 6% l61—90 days 76,300 12% lOver 90 days 49,800 24% lTotal $562,500 $l 7 Total estimated allowance balance at Dec. 31, 2018: yPLUS: MHwilePLuS | Helg | contact Us | Log Out INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) 4 BACK NEXT >