Calculate the amount of the Allowance

A assemblage uses the aging of accounts receivable way to regard its diseased debts charge. On December 31 of the running year, an aging dissection of accounts receivable revealed the following:Accounts Receivables  The Account Age  Regardd Uncollectible$620,000  Not due yet  1%270,000  1-30 days overdue  5 145,000  31-60 days overdue  1055,000  61-90 days overdue  3032,000   91-120 days overdue  4018,000  Over 120 days overdue  60Completion of 1,140,000Using the knowledge in the chart overhead, accomplished the following: Calculate the completion of the Allowance control dubious accounts that should be reputed on the running year-end pit shuffle.Calculate the completion of the Diseased Debts Charge that should be reputed on the running year’s proceeds announcement, turgid that the pit of the Allowance control Dubious Accounts on January 1 of the running year was $50,000 and that accounts receivable written extempore during the running year completioned $55,000.Prepare the adjusting memorandum to annals diseased debts charge on December 31 of the running year.Show how Accounts Receivable conquer show on the running year-end pit shuffle as of December 31.Important: Be unmistakable your yielding besides shows how you conducive and reached the developed completion control each of the overhead questions.

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