CES 8 Question 3 Presented below is an aging schedule for Pronghorn AG. Number of Days Past Due Customer Total Not 1-30 31-60 Yet Due 61-90 Over 90 Anders $ 30,900 $13,200 $17,700 Blake 44,000 $ 44,000 Cyrs 64,300 20,000 7,200 $37,100 De Jong 36,700 $36,700 Others 137,000 98,300 16,900 14,200 7,600 $312,900 $162,300 $37,300 $31,900 $37,100 $44,300 Estimated percentage uncollectible 3% 5% 13% 26% 63% Total estimated bad debts $ 48,436 $4,869 $ 1,865 $ 4,147 $ 9,646 $27,909 At December 31, 2017, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $10,290. Journalize and post the adjusting entry for bad debts at December 31, 2017. (Credit account titles are automat indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Bad Debt Expense Journalize and post the adjusting entry for bad debts at December 31, 2017. (Credit account titles are automatically inde indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Debit Credit Balance Bad Debt Expense Date Explanation Ref Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref Dec. 31 Balance Debit Credit Balance Dec. 31 Adjusting alize and post to the allowance account the following events and transactions in the year 2018. (Credit account t is entered. Do not indent manually.) (1) On March 31, a $1,230 customer balance originating in 2017 is judged uncollectible. (2) On May 31, a check for $1,230 is received from the customer whose account was written off as uncollectible on Marc No. Date Account Titles and Explanation Debit Credit (1). Mar. 31 (2). May 31 (To record recovery of bad debts). May 31 (To record amount received). Allowance for Doubtful Accounts Explanation Ref Debit Date 2017 Credit Balance Dec. 31 Dec. 31 2018 Balance Adjusting 38,146 10,290 48,436 Privacy Policy | 2000-2020 lohn Wiley Sans Inc. All Rints Racun Journalize the adjusting entry for bad debts on December 31, 2018, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $900 and the aging schedule indicates that total estimated bad debts will be $30,600. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31