CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Problem 9-03A a-C Presented below is an aging schedule for Pharoah Company. e Customer Anders Blake Coulson Deleon Number of Days Past Due Not Over Total Yet Due 1-30 31-60 61-90 90 $ 21,900 $10,700 $11,200 38,800 $ 38,800 58,300 15,700 6,700 $35,900 34,300 $34,300 132,500 96,400 15,700 14,600 5,800 $285,800 $150,900 $33,100 $25,800 $35,900 $40,100 Others 3% 5% 12% 26% 53% Estimated Percentage Uncollectible Total Estimated Bad Debts $ 39,865 $ 4,527 $ 1,655 $3,096 $9,334 $21,253 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,000. Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Debit Credit Balance Bad Debts Expense Date Explanation Ref. Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref. Dec. 31 Balance Dec. 31 Adjusting Debit Credit Balance SHOW LIST OF ACCOUNTS LINK TO TEXT CALCULATOR FULL SCREEN PRINTER VERSION BACK NE Journalize and post to the allowance account the following events and transactions in the year 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. On March 31, a $1,100 customer balance originating in 2020 is judged uncollectible. 2. On May 31, a check for $1,100 is received from the customer whose account was written off as uncollectible 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 write off.) Allowance for Doubtful Accounts Date Ref. Debit Credit Balance Explanation Balance Dec 31 2020 12 nnn las KACANG Tne Marcinn 4 241 Allowance for Doubtful Accounts Date Ref. Debit Credit Balance Explanation Balance Dec. 31, 2020 13,000 39,865 Dec 31, 2020 Adjusting 26,865 Mar. 31, 2021 May 31, 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the adjusting entry for bad debts on December 31, 2021, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $890 and the aging schedule indicates that total estimated bad debts will be $32,700. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Click if you would like to Show Work for this question: Open Show Work Journalize the adjusting entry for bad debts on December 31, 2021, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $890 and the aging schedule indicates that total estimated bad debts will be $32,700. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT
