Question: Problem 8-3A (Part Level Submission) Presented below is an aging schedule for Pronghorn Corp Number of Days Past Due Not Yet Due Over 90 Customer

 Problem 8-3A (Part Level Submission) Presented below is an aging schedule
for Pronghorn Corp Number of Days Past Due Not Yet Due Over

Problem 8-3A (Part Level Submission) Presented below is an aging schedule for Pronghorn Corp Number of Days Past Due Not Yet Due Over 90 Customer Total 1-30 31-60 61-90 $24,800 $9,300 $15,500 dy Bird 31,600 50,100 34,700 $31,600 Cope DeSpears Others 5,100 5,100 $39,900 $34,700 116,700 71,400 33,400 11,900 $257.900$08100400,700 $257,900 $108,100 $47,800 $27,400 $39,900 $34,700 3 3% 6% 13% 25% 63% uncollectible $41,509$ 3,243 $2,868$3,562 9,975 $21,861 $41,509 Total estimated bad debts At December 31, 2016, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,200. (al) Journalize the adjusting entry for bad debts at December 31, 2016. (Credit account titles are automatically indented when amount is manually.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!