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Adjustment for uncollectible accounts Below is the aging of receivables schedule for Evers Industries. Subtotals Customer Boyd Industries Hodges Company Kent Creek Inc. Lockwood Company
Adjustment for uncollectible accounts Below is the aging of receivables schedule for Evers Industries. Subtotals Customer Boyd Industries Hodges Company Kent Creek Inc. Lockwood Company Van Epps Company Totals Percentage uncollectible Allowance for Doubtful Accounts July 31 Aging of Receivables Schedule November 30 Balance Not Past Due 590,600 348,500 10,600 15,200 8,600 7,700 28,600 28,600 661,300 377,100 1% 55,842 3,771 1-30 Days Past Due 129,900 7,700 137,600 6% 8,256 31-60 Days Past Due 53,200 8,600 61,800 20% 12,360 61-90 Days Past Due 29,500 15,200 44,700 30% 13,410 Over 90 Days Past Due 29,500 10,600 40,100 45% 18,045 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $11,725 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.
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