9-3A

Problem 9-3A Presented below is an aging schedule for Halleran Company. Number of Days Past Due Not Over 90 Total Yet Due 1-30 31-60 61-90 Customer Anders 21,800 $10,400 $11,400 Blake 42,000 $42,000 Coulson 56,100 15,400 6,200 $34,500 Deleon 34,400 $34,400 Others 131,600 94,700 17,100 14,400 5,400 $285,900 $152,100 $33,700 $25,800 $34,500 $39,800 Estimated Percentage Uncollectible 2% 5% 13% 24% 55% Total Estimated Bad Debts $3,042 38,251 $ 1,685 $3.354 $8.280 $21.890 At December 31, 2017, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,900 Journalize and post the adjusting entry for bad debts at December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manualy.) Account Titles Date Debit Credit Dec. 31 Bad Debts Expense Explanation Ref. Debit Credit Date Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Ref. Debit Credit: Date Explanation Balance Dec. 31 Balance Dec. 31 Adjusting Jourmalize and post to the allowance account the following events and transactions in the year 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) On March 31, a $1,300 customer balance originating in 2017 is judged uncollectible. (2) On May 31, a check for $1,300 is received from the custamer whose account was written off as uncollectible on March 31 No. Date Account Titles and Explanation Debit Credit (1). Mar 31 (2), May 31 (To reverse write-off) May 31, (To record collection of wite off.) Allowance for Doubtful Accounts Balance Explanation Date Ref Debit Credit Dec 31 201 Balance 12,900 Dec. 31 2017 Adjusting 25,351 38,251 Mar 31 2018 May 31 2018 Journalize the adjusting entry for bad debts on December 31, 2018, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $860 and the aging schedule indicates that total estimatedi bad debts will be $31,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31