Presented below is an aging schedule for Halleran Company at December 31, 2021.

At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000.

Instructions
a. Journalize and post the adjusting entry for uncollectibles at December 31, 2021.
b. Journalize and post to the allowance account these 2022 selected events and transactions.
1. March 31, a $1,000 customer balance originating in 2021 is judged uncollectible.
2. May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31.
c. Journalize the adjusting entry for uncollectibles on December 31, 2022, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated uncollectibles will be $31,600.

Transcribed Image Text:

1 2 MAS 10 3 4 9 10 P18 11 12 Home Anders 5 Blake 6 Coulson Deleon Others A Insert Customer Estimated Percentage Uncollectible Total Estimated Bad Debts Page Layout fx B Formulas Total $ 22,000 40,000 57,000 34,000 132,000 $285,000 $ 38,610 Worksheet Data Review View C Not Yet Due $ 40,000 16,000 96,000 $152,000 D F Number of Days Past Due 61-90 E 1-30 $10,000 6,000 $34,000 16,000 14,000 6,000 $32,000 $26,000 $35,000 $40,000 31-60 $12,000 3% 6% $ 4,560 $ 1,920 $ 3,380 13% $35,000 G 25% $8,750 Over 90 50% $20,000