1. Suppose the amount uncollectible on March 31 is changed to $1800 and no cash was received from customer subsequent to the write-off of account receivable. what would the balance of the Allowance of Doubtful Accounts before adjustment?

2. Suppose the balance in the allowance of doubtful accounts before adjustment was $2100 debit. An Aging schedule indicates that total estimated bad debts will be $38000 . what is the year-end adjustment for bad debts for 2020?
 
 

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P9.3A Journalize entries to record transactions related to bad debts Presented below is an aging schedule for Halleran Company. Number of Days Past Due Not yet Total Customer Anders Due 1-30 31-60 61-90 Over 90 $10,000 $ 12,000 22,000 40,000 $ 40,000 57,000 Blake Coulson 16,000 6,000 35,000 Deleon 34,000 132,000 285,000 $152,000 $32,000 34,000 6,000 $ 40,000 Others 96,000 16,000 14,000 $26,000 $35,000 2$ Estimated Percentage Uncollectible 3% 6% 13% 25% 50% Total Estimated Bad Debts 38,610 $ 4,560 $ 1,920 $ 3,380 $ 8,750 $ 20,000 At December 31, 2020, the unadjusted balance in Allowance for Doutful Accounts is a credit of $12,000. Instructions: (a) Journalize and post the adjusting entry for bad debts at December 31, 2020. (b) Journalize and post the allowance account the following events and transactions in the year 2021. (1) On March 31, a $1,000 customer balance originating in 2020 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, 2021, assuming that the unadjusted balance in the Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated bad debts will be $31,600. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". P9.3A Journalize entries to record transactions related to bad debts Presented below is an aging schedule for Halleran Company. Number of Days Past Due Not yet Total Customer Anders Due 1-30 31-60 61-90 Over 90 $10,000 $ 12,000 22,000 40,000 $ 40,000 57,000 Blake Coulson 16,000 6,000 35,000 Deleon 34,000 132,000 285,000 $152,000 $32,000 34,000 6,000 $ 40,000 Others 96,000 16,000 14,000 $26,000 $35,000 2$ Estimated Percentage Uncollectible 3% 6% 13% 25% 50% Total Estimated Bad Debts 38,610 $ 4,560 $ 1,920 $ 3,380 $ 8,750 $ 20,000 At December 31, 2020, the unadjusted balance in Allowance for Doutful Accounts is a credit of $12,000. Instructions: (a) Journalize and post the adjusting entry for bad debts at December 31, 2020. (b) Journalize and post the allowance account the following events and transactions in the year 2021. (1) On March 31, a $1,000 customer balance originating in 2020 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, 2021, assuming that the unadjusted balance in the Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated bad debts will be $31,600. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?".

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in Date Accounts Title Dr Cr Dec31 Bad Debt expenses ... View the full answer