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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