English ? O - Attachment-1.pdf - Adobe Acrobat Pro DC (32-bit) File Edit View Sign Window Help Home Tools Attachment-1.pdf X X Subscribe 1 3/5 80% F balances. () Prepare the journal entry to record bad debt expense for 2014, assuming that an aging of accounts receivable indicates that estimated bad debts are Tk 22,000. (d) Compute the accounts receivable turnover ratio for the year 2014, assuming the expected bad debt information presented in (c). Search tools Create PDF Edit PDF Over 90 Export PDF Question-2: Presented below is an aging schedule for Gary Owen Company 1 Number of Days Past Due 2 Not 3 Customer Total Yet Due 1-30 31-60 61-90 4 Alma $ 26,000 $11,500 $14,500 5 Browne 45,000 $ 45,000 6 Conlon 75,000 22,500 7,500 $45,000 7 Dalton 57,000 8 Others 189,000 138,000 22,500 19,500 9 $392,000 $205,500 $41,500 $34,000 $45,000 Estimated 10 percentage uncollectible 2% 6% 10% 25% Total estimated 11 bad debts $ 54,250 $ 4,110 $ 2,490 $ 3,400 $11,250 Comment $57,000 9,000 $66,000 El Organize Pages 50% Scan & OCR $33,000 Protect Du Fill & Sign Prepare Form At December 31, 2014, the unadjusted balance in Allowance for Doubtful Accounts is a credit of Tk 14,000. Instructions (a) Journalize and post the adjusting entry for bad debts at December 31, 2014. (6) Journalize and post to the allowance account the following events and transactions in the year 2015 (1) March 1, a Tk.1,900 customer balance originating in 2014 is judged uncollectible. (2) May 1, a check for Tk. 1,900 is received from the customer whose account was written off as uncollectible on March 1. (c) Journalize the adjusting entry for bad debts on December 31, 2015. Assume that the unadjusted balance in Allowance for Doubtful Accounts is a debit of Tk 3,400, and the aging schedule indicates that total estimated bad debts will be Tk.42,300. Trial Expired Buy now to restore full access to Acrobat. Subscribe Now Activate H 1 8:20 AM 4/22/2021