At December $31,2021,$ before any year$-$end adjustments, the Accounts Receivable balance of Turf Trimmers, Inc., is $$370,000.$ The Allowance for Uncollectible Accounts has a$($n$)$ $$26,600$ credit

balance. Turf Trimmers prepares the following aging schedule for Accounts Receivable:

$($Click the icon to view the aging schedule.$)$

Read the requirements.

Requirement $1.$ Based on the aging of Accounts Receivable, is the unadjusted balance of the allowance account adequate? Too high? Too low?

First, calculate a revised allowance for uncollectible accounts amount and the adjusting entry amount. $($Round to the nearest dollar.$)$

Allowance for Uncollectible Accounts:

Credit balance needed

$1-30$

$31-60$

$61-90$

Over $90$

Subto$$tal

Less: Unadjusted balance

Adjusting entry amountHow to solve

Griffin Company's inventory records for its retail division show the following at December $31$:

$($Click the icon to view the accounting records.$)$

At December $31,11$ of these units are on hand.

Read the requirements.

Requirement $1.$ Journalize for Griffin total December purchases in one summary entry, under the perpetual system. All purchases were on credit. $($Record debits first, then credits. Exclude

explanations from any journal entries.$)$

Journal Entry