Presented below is an aging schedule for Kingbird Company at December 31, 2021. Journalize and post...
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Presented below is an aging schedule for Kingbird Company at December 31, 2021. Journalize and post to the allowance account these 2022 selected events and transactions. (Credit account titles are automatically indented when a Number of Days Past Due 1. On March 31, a $1,300 customer balance originating in 2021 is judged uncollectible. Customer Total Not Yet Due Over 90 2. 1-30 31-60 61-90 On May 31, a check for $1,300 is received from the customer whose account was written off as uncollectible on March 31. Anders $24,100 $10,200 $13,900 Blake 40,100 $40,100 No. Date Account Titles and Explanation 1. Mar. 31 Debit Credit Coulson 56,100 16,300 5,000 $34,800 Deleon 33,600 $33,600 Others 130,600 96,600 15,100 13,400 5,500 2. May 31 $284,500 $153,000 $30,300 $27,300 $34,800 $39,100 Estimated Percentage Uncollectible 3% 5% 13% 25% 41% (To reverse write-off) Total Estimated Bad Debts $ 34,385 $4,590 $1,515 $3,549 $8,700 $16,031 May 31 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,800. (To record collection of write off.) Presented below is an aging schedule for Kingbird Company at December 31, 2021. Journalize and post to the allowance account these 2022 selected events and transactions. (Credit account titles are automatically indented when a Number of Days Past Due 1. On March 31, a $1,300 customer balance originating in 2021 is judged uncollectible. Customer Total Not Yet Due Over 90 2. 1-30 31-60 61-90 On May 31, a check for $1,300 is received from the customer whose account was written off as uncollectible on March 31. Anders $24,100 $10,200 $13,900 Blake 40,100 $40,100 No. Date Account Titles and Explanation 1. Mar. 31 Debit Credit Coulson 56,100 16,300 5,000 $34,800 Deleon 33,600 $33,600 Others 130,600 96,600 15,100 13,400 5,500 2. May 31 $284,500 $153,000 $30,300 $27,300 $34,800 $39,100 Estimated Percentage Uncollectible 3% 5% 13% 25% 41% (To reverse write-off) Total Estimated Bad Debts $ 34,385 $4,590 $1,515 $3,549 $8,700 $16,031 May 31 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,800. (To record collection of write off.)
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