3. UNCOLLECTIBLE ACCOUNTS - TRANSACTIONS P8.4A (LO 2) AP Presented below is an aging schedule for...

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3. UNCOLLECTIBLE ACCOUNTS - TRANSACTIONS P8.4A (LO 2) AP Presented below is an aging schedule for Halleran Company at December 31, 2023: Number of Days Past Due Customer Anders Total Not Yet Due 1-30 31-60 61-90 Over 90 $ 22,000 $10,000 $ 12,000 Blake 40,000 40,000 Coulson 57,000 16,000 6,000 $35,000 Deleon 34,000 $34,000 F Others 1,32,000 $285,000 96,000 $152,000 16,000 $32,000 14,000 6,000 $26,000 $35,500 $40,000 1 Estimated percentage 3% 6% 13% 25% 50% uncollectible Estimated uncollectible $ 38,610 $4.560 1,920 3.380 accounts $ $ 20,000 8,750 At December 31, 2023, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000. Instructions a. Prepare T accounts for Accounts Receivable and Allowance for Doubtful Accounts and enter the 2023 unadjusted balances. b. Prepare and post the adjusting entry for uncollectibles at December 31, 2023. c. Prepare and post the entries for these selected 2024 events and transactions. 1. March 31, a $1,000 customer balance originating in 2023 is judged uncollectible. 2. May 31, a cheque for $1,000 is received from the customer whose account was written off as uncollectible on March 31. d. Prepare the adjusting entry for uncollectibles on December 31, 2024, 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. Accounts Receivable. Allowance for Doubtful Accounts 3. UNCOLLECTIBLE ACCOUNTS - TRANSACTIONS P8.4A (LO 2) AP Presented below is an aging schedule for Halleran Company at December 31, 2023: Number of Days Past Due Customer Anders Total Not Yet Due 1-30 31-60 61-90 Over 90 $ 22,000 $10,000 $ 12,000 Blake 40,000 40,000 Coulson 57,000 16,000 6,000 $35,000 Deleon 34,000 $34,000 F Others 1,32,000 $285,000 96,000 $152,000 16,000 $32,000 14,000 6,000 $26,000 $35,500 $40,000 1 Estimated percentage 3% 6% 13% 25% 50% uncollectible Estimated uncollectible $ 38,610 $4.560 1,920 3.380 accounts $ $ 20,000 8,750 At December 31, 2023, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000. Instructions a. Prepare T accounts for Accounts Receivable and Allowance for Doubtful Accounts and enter the 2023 unadjusted balances. b. Prepare and post the adjusting entry for uncollectibles at December 31, 2023. c. Prepare and post the entries for these selected 2024 events and transactions. 1. March 31, a $1,000 customer balance originating in 2023 is judged uncollectible. 2. May 31, a cheque for $1,000 is received from the customer whose account was written off as uncollectible on March 31. d. Prepare the adjusting entry for uncollectibles on December 31, 2024, 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. Accounts Receivable. Allowance for Doubtful Accounts