Adjustment for Uncollectible Accounts Below is the aging of receivables schedule for Evers Industries. Aging of Receivables Schedule July 31 Not 1-30 31-60 61-90 Over 90 Past Days Customer Balance Due Past Due Days Past Due Days Past Due Days Past Due Subtotals 1,050,000 600,000 220,000 115,000 85,000 30,000 Boyd Industries 36,000 Hodges Company 11,500 Kent Creek Inc. 6,600 36,000 11,500 6,600 Lockwood Company 7,400 7,400 Van Epps Company 13,000 13,000 Totals 1,124,500 607,400 233,000 121,600 96,500 66,000 Percentage uncollectible 1% 3% 12% 30% 75% 106,106 6,074 6,990 14,592 28,950 49,500 Allowance for Doubtful Accounts Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not require an entry, leave it blank. July 31 Bad Debt Expense Allowance for Doubtful Accounts 88 Feedback Check My Work When using the allowance method, the balance of the allowance account after the adjusting entry should be the proper balance computed by the company.