Number of Days Past Due Not Yet Over Customer Total Due 1-30 31-60 61-90 90 Aneesh...
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Number of Days Past Due Not Yet Over Customer Total Due 1-30 31-60 61-90 90 Aneesh $24,500 $9,100 $15,400 Bird 31,700 $31,700 Cope 51,700 5,200 5,200 DeSpears 36,400 $41,300 $36,400 Others 126,600 79,200 34,300 13,100 $270,900 $116,100 $48,600 $28,500 $41,300 $36,400 Estimated percentage 7% 12% 26% 62% uncollectible Total estimated bad debts $43,611 $3,483 $3,402 $3,420 $10,738 $22,568 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,400. Journalize the adjusting entry for bad debts at December 31, 2024. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation eTextbook and Media List of Accounts Debit Post the adjusting entry for bad debts at December 31, 2024. (Post entries in the order of journal entries presented in the previous part.) eTextbook and Media List of Accounts Bad Debt Expense Allowance for Doubtful Accounts Journalize the 2025 transactions: (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. March 1, a $540 customer balance originating in 2024 is judged uncollectible. 2. May 1, a check for $540 is received from the customer whose account was written off as uncollectible on March 1. No. Date Account Titles and Explanation 1. 2. eTextbook and Media List of Accounts (To reinstate account previously written off) (To record receivables) Debit Cre Post to the allowance account these 2025 events. (Post entries in the order of journal entries presented in the previous part) 2024 2025 eTextbook and Media List of Accounts Allowance for Doubtful Accounts 12/31 Bal. 7,400 12/31 36,211 12/31 Bal 43,611 Number of Days Past Due Not Yet Over Customer Total Due 1-30 31-60 61-90 90 Aneesh $24,500 $9,100 $15,400 Bird 31,700 $31,700 Cope 51,700 5,200 5,200 DeSpears 36,400 $41,300 $36,400 Others 126,600 79,200 34,300 13,100 $270,900 $116,100 $48,600 $28,500 $41,300 $36,400 Estimated percentage 7% 12% 26% 62% uncollectible Total estimated bad debts $43,611 $3,483 $3,402 $3,420 $10,738 $22,568 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,400. Journalize the adjusting entry for bad debts at December 31, 2024. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation eTextbook and Media List of Accounts Debit Post the adjusting entry for bad debts at December 31, 2024. (Post entries in the order of journal entries presented in the previous part.) eTextbook and Media List of Accounts Bad Debt Expense Allowance for Doubtful Accounts Journalize the 2025 transactions: (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. March 1, a $540 customer balance originating in 2024 is judged uncollectible. 2. May 1, a check for $540 is received from the customer whose account was written off as uncollectible on March 1. No. Date Account Titles and Explanation 1. 2. eTextbook and Media List of Accounts (To reinstate account previously written off) (To record receivables) Debit Cre Post to the allowance account these 2025 events. (Post entries in the order of journal entries presented in the previous part) 2024 2025 eTextbook and Media List of Accounts Allowance for Doubtful Accounts 12/31 Bal. 7,400 12/31 36,211 12/31 Bal 43,611
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Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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