Question: quickly help please! Presented below is an aging schedule for Vaughn Company at December 31, 2021. At December 31,2021 , the unadjusted balance in Allowance


Presented below is an aging schedule for Vaughn Company at December 31, 2021. At December 31,2021 , the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,600. Journalize and post to the allowance account these 2022 selected events and transactions. (Credit occount titles are outomatically indented when amount is entered. Do not indent manually) 1. On March 31, a $1,200 customer balance originating in 2021 is judged uncollectible. 2. On May 31, a check for $1,200 is received from the customer whose account was written off as uncollectible on March 31. May31 (To record collection of write oft) Allowance for Doubtful Accounts \begin{tabular}{|c|c|c|c|c|c|} \hline Date & Explanation & Ref. & Debit & Credit & Balance \\ \hline \begin{tabular}{l} Dec. 31 \\ 2021 \end{tabular} & Balance & & & & 11,600 \\ \hline \begin{tabular}{l} Dec. 31 , \\ 2021 \end{tabular} & Adjusting & & & 20,420 & 32,020 \\ \hline \end{tabular} Mar. 31, 2022 May 31,2022
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
