Using data in Exercise 8-9, assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31.
Data from Exercise 8-9
Age Class ______________ Percent Uncollectible
Not past due ........................... 1%
1-30 days past due ..................... 3
31-60 days past due .................. 12
61-90 days past due .................. 30
Over 90 days past due ................ 75