The following information is available regarding the accounts receivable of Club Fit Holdings at August 31, 2023:

*All services are performed on terms of n/60. Assume all sales occurred on the last day of the month.
Club Fit estimates uncollectability of accounts receivable using the following rates:

Required

a. Complete a Schedule of Accounts Receivable by Age at August 31, 2023, similar to Exhibit 8.13.

b. The Allowance for Doubtful Accounts showed an unadjusted balance on August 31, 2023, of $9,600 (debit). Record the adjusting journal entry at August 31, 2023, to estimate uncollectible accounts.

Transcribed Image Text:

Customer A. Leslie T. Meston P. Obrian L. Timms W. Victor April $ -0- 52,000 -0- -0- -0- Month of Credit Sale* June May $24,000 -0- -0- 126,000 -0- $ -0- -0- -0- 52,000 166,000 July $58,000 -0- 104,000 -0- 122,000 Aug. $32,000 -0- 42,000 28,000 64,000