Sunday, May 31, 2015

Chai Tea Corporation has the following receivables at the end of the accounting period

Chai Tea Corporation has the following receivables at the end of the accounting period
The estimated percent uncollectible for each category is also shown.
Age:                       Current                                  30-60                                 61-90                                More than 90
                                          Days past due                  days past due                      days past due
Amount:              $228,000              $90,000                 $30,000                 $10,000
% uncollectible  2.5%                      6%                                          12%                                        50%
Prior to the necessary adjusting entry, Chai\'s Allowance for Doubtful Accounts has a CREDIT balance of $3,100.
What is the amount of the adjusting entry that Chai would need to make

Click here: Chai Tea Corporation has the following receivables at the end of the accounting period