Looks Good Wigs Company supplies wigs and hair care products to beauty salons throughout California and the Pacific Northwest. The accounts receivable clerk for Looks Good prepared the following partially completed aging-of-receivables schedule as of the end of business on December 31, 2007 :

The following accounts were unintentionally omitted from the aging schedule:

{Instructions}
1. Determine the number of days past due for each of the preceding accounts.
2. Complete the aging-of-receivables schedule.
3. Estimate the allowance for doubtful accounts, based on the aging-of-receivables schedule.
4. Assume that the allowance for doubtful accounts for Looks Good Wigs has a credit balance of \(\$ 9,550\) before adjustment on December 31, 2007. Journalize the adjustment for uncollectible accounts.

Transcribed Image Text:

A B C D E Not F Days Past Due G H Past Customer 2 Blount Wigs Balance Due 1-30 31-60 61-90 91-120 Over 120 1 Daytime Beauty 20,000 20,000 11,000 11,000 2 9 3 30 Zabka's 2,900 2,900 30 31 Subtotals 780,000 398,600 197,250. 98,750 33,300 29,950 22,150 31