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Uncollectible Accounts Receivables for XYZ (Coursework Sample)


Assignment Topic:
Below is the “totals” section of XYZ Corporation’s full ageing schedule. XYZ will be using this information to estimate uncollectible accounts receivable at year-end


Uncollectible Accounts Receivables for XYZ
Student’s Name
Institutional Affiliation
Course Name + Code
Instructor's Name
Uncollectible Accounts Receivables for XYZ
1 Percentage of bad debts = (bad debts /total debts)*100
The company’s total debt is $375,000.
Similarly, the company has debts with a different number of days outstanding. The debt collection rate for $220,000 is 1%, while the debts should be collected within 30 days.
The percentage rate for the debts to be collected between 31-60 days is 4% while the amount of debt = $90,000
61-90 days
Accounts receivables = $30,000
Percent uncollectible = 5%
Estimated bad debts 5/100*40,000
91-120 days
Accounts receivables = 20,000
Percent uncollectible = 9%
Over 120 days
Accounts receivables = $15,000
Percent uncollectible = 20%
Total estimated bad debts = (2,200 + 3,600+ 1500+ 1800+ 3000)
Total estimated bad debts is $12,100
2. Journal entry
Dr. Bad debt expense $9,100
Cr. Bad and doubtful debts $9,100
(Being a record of bad and doubtful debts assuming that the current bad debt allowance is $3000)

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