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Aging Method Bad Debt Expense Cindy Bagnal, the manager of Cayce Printing Service, has provided the following aging schedule for Cayce's accounts receivable: Accounts
Aging Method Bad Debt Expense Cindy Bagnal, the manager of Cayce Printing Service, has provided the following aging schedule for Cayce's accounts receivable: Accounts Proportion Expected Receivable Category Amount to Default 0-20 days $80,100 0.02 21-40 days 21,500 0.08 41-60 days 11,700 0.15 Over 60 days 5,300 $118,600 0.30 Cindy indicates that the $118,600 of accounts receivable identified in the table does not include $8,900 of receivables that should be written off. Required: 1. Journalize the $8,900 write-off. If an amount box does not require an entry, leave it blank. Allowance for Doubtful Accounts Accounts Receivable. (Record write-off of defaulted account) Feedback 8,900 0 8,900 2. Determine the desired postadjustment balance in allowance for doubtful accounts. Round each aging category to the nearest dollar.. 6,667
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