1.Complete the aging schedule as of December 31,20--. If required, round your answers to the Nearest cent.

General journal

2. Assuming that Allowance for Doubtful Accounts had a credit balance of $600 before adjustment. record the end-of-period adjusting entry in general journal form to enter the estimate for uncollectible accounts. If an amount box does not require an entry, leave it blank. If required, round your answers to the nearest cent.

Transcribed Image Text:

Aging schedule Balance Estimated Percent Uncollectible Estimated Amount Uncollectible $62,270 2% 27,740 5% 3,440 10% 1,760 25% 1,240 35% 55% 85% Age Interval Not yet due 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due 181-365 days past due 630 Over 365 days past due 420 Total $97,500 DATE 1 20--Dec. 31 2 3 ACCOUNT TITLE DOC. POST. NO. REF. DEBIT Page: CREDIT 38 1 2 3 Aging schedule Balance Estimated Percent Uncollectible Estimated Amount Uncollectible $62,270 2% 27,740 5% 3,440 10% 1,760 25% 1,240 35% 55% 85% Age Interval Not yet due 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due 181-365 days past due 630 Over 365 days past due 420 Total $97,500 DATE 1 20--Dec. 31 2 3 ACCOUNT TITLE DOC. POST. NO. REF. DEBIT Page: CREDIT 38 1 2 3

Answer rating: 100% (QA)

1 Balance Estimated Estimated amount Age Interval uncollectible Not yet due 62270 ... View the full answer