RECOMMENDED!!ACCT 220 & 221-Alpha Company uses aging to estimate uncollectibles

  

Alpha Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2016, Accounts Receivable has a balance that consists of:Dollar ValueAge of AccountEstimated Collectible$125,000< 30 days old98%85,00030 to 60 days old85%50,00061 to 120 days old50%10,000> 120 days old10%The current unadjusted Allowance for Uncollectable Accounts balance is a credit balance of $1,575 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the:1. Accounts Receivable2. Allowance for Doubtful Accounts3. Bad Debt Expense

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