Question
A summary of Klugman Company's December 31, 2021, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group:
A summary of Klugman Company's December 31, 2021, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group: Age Group Amount % 060 days $ 53,000 0.5 6190 days 18,500 1.0 91120 days 2,300 10.0 Over 120 days 1,200 50.0 The allowance for uncollectible accounts had a balance of $1,330 on January 1, 2021. During the year, bad debts of $680 were written off. Required: Prepare all journal entries for 2021 with respect to bad debts and the allowance for uncollectible accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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