Presented below is an aging schedule for Sycamore Company.

At December 31, 2014, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $9,000.

Instructions
(a) Journalize and post the adjusting entry for bad debts at December 31, 2014.
(b) Journalize and post to the allowance account the following events and transactions in the year 2015.
(1) On March 31, a $1,000 customer balance originating in 2014 is judged uncollectible.
(2) On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31.
(c) Journalize the adjusting entry for bad debts on December 31, 2015, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated bad debts will be$31,600.

Worksheet.xls Home Insert Page Layout Fomusas DataRevlew Vew P18 Number of Days Past Due Not Yet Due 3 Customer 4 Anders 5 Blake 6 Cyrs 7 De Jong 8 Others Total 28,000 40,000 40,000 1-30 31-60 6 $12,000 $16,000 1-90 Over 90 57,000 34,000 132,000 16,000 6,000 $35,000 $34,000 6,000 $291,000 $152,000 $34,000 $30,000 $35,000 $40,000 96,000 16,000 14,000 Estimated 10percentage uncollectible Total estimated 296 6% 13% 25% 600 11 bad debts 12 41,730 3,040 2,040 3,900 8,750 $24,000