Presented below is an aging schedule for Cullumber Company. Number of Days Past Due Not Yet...
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Presented below is an aging schedule for Cullumber Company. Number of Days Past Due Not Yet Due Over 90 Customer Total 31-60 61-90 1-30 $10,000 $11,000 Anders $ 21,000 Blake 38,000 $ 38,000 Coulson 54,000 15,000 5,000 $34,000 Deleon 33,100 $33,100 Others 127,400 94,100 15,100 13,100 5,100 $273,500 $147,100 $30,100 $24,100 $34,000 $38,200 Estimated Percentage 1% 5% 12% 24% 40% Uncollectible Total Estimated Bad Debts $ 29,308 $ 1,471 $1,505 $2,892 $ 8,160 $15,280 At December 31, 2019, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,100. (a) Your answer is partially correct. Try again. Journalize the adjusting entry for bad debts at December 31, 2019. (Credit account titles are automatically in Date Account Titles Debit Credit Dec. 31, 2020 Bad Debt Expense Allowance for Doubtful Accounts Post the adjusting entry for bad debts at December 31, 2019. Bad Debt Expense 12/31/20 Adj. 29450 12/31/20 Bal. 29450 Allowance for Doubtful Accounts 12/31/19 Bal. 12/31/20 Bal. 12/31/20 Adj. S 31 11100 29450 29308 29450 29450 Presented below is an aging schedule for Cullumber Company. Number of Days Past Due Not Yet Due Over 90 Customer Total 31-60 61-90 1-30 $10,000 $11,000 Anders $ 21,000 Blake 38,000 $ 38,000 Coulson 54,000 15,000 5,000 $34,000 Deleon 33,100 $33,100 Others 127,400 94,100 15,100 13,100 5,100 $273,500 $147,100 $30,100 $24,100 $34,000 $38,200 Estimated Percentage 1% 5% 12% 24% 40% Uncollectible Total Estimated Bad Debts $ 29,308 $ 1,471 $1,505 $2,892 $ 8,160 $15,280 At December 31, 2019, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,100. (a) Your answer is partially correct. Try again. Journalize the adjusting entry for bad debts at December 31, 2019. (Credit account titles are automatically in Date Account Titles Debit Credit Dec. 31, 2020 Bad Debt Expense Allowance for Doubtful Accounts Post the adjusting entry for bad debts at December 31, 2019. Bad Debt Expense 12/31/20 Adj. 29450 12/31/20 Bal. 29450 Allowance for Doubtful Accounts 12/31/19 Bal. 12/31/20 Bal. 12/31/20 Adj. S 31 11100 29450 29308 29450 29450
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Requirement 1 Date Account Titles and Explanation Debit Credit Dec31 Bad Debts Expense 2930811000 18... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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