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2. Presented below is an aging schedule for XYZ Company Number of days past due customer total Not yet 30-Jan 31-60 61-90 due Over 90
2. Presented below is an aging schedule for XYZ Company Number of days past due customer total Not yet 30-Jan 31-60 61-90 due Over 90 $13.500 $16.500 Alma Browne 530,000 75,000 $45,000 22,500 7.500 Conlon Dalton 45,000 57.000 $45,000 $57.000 Others 189.000 138.000 22.500 9,000 TOTAL S396,000 S205,500 $43.500 S36,000 $45,000 566,000 2% 6% 10% 25% 40% Estimated % uncollectible a At December 31, 2018, the unadjusted balance in Allowance for Doubtful Accounts is a credit of S16,000 Instructions: A. Journalize the adjusting entry for bad debts at December 31, 2018 B. Journalize the allowance account the following events and transactions in the year 2018 1) March 1, a $1.900 customer balance originating in 2018 is judged uncollectible. 2) May 1, a check for $1,900 is received from the customer whose account was written off as uncollectible on March 1. C. Journalize the adjusting entry for bad ches on December 31, 2019. Assume that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $2,000, and the aging schedule indicates that total estimated bad debts will be $38,300
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