Entry for Uncollectible Accounts

Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are given below.

Age Interval	Balance	Estimated Uncollectible Accounts Percent			Estimated Uncollectible Accounts Amount
Not past due	$500,000	1/2	%		$2,500
1-30 days past due	55,000	2			1,100
31-60 days past due	25,000	8			2,000
61-90 days past due	18,000	15			2,700
91-180 days past due	13,000	39			5,070
Over 180 days past due	9,500	70			6,650
Total	$620,500				$20,020

Assume that the allowance for doubtful accounts for Outlaw Bike Co. had a debit balance of $3,605 as of December 31.

Journalize the adjusting entry for uncollectible accounts as of December 31. If an amount box does not require an entry, leave it blank.

Dec. 31	Bad Debt Expense	fill in the blank 2	fill in the blank 3
	Allowance for Doubtful Accounts	fill in the blank 5	fill in the blank 6

Accounts receivable turnover and days sales in receivables

For two recent years, Robinhood Company reported the following:

	20Y9	20Y8
Sales	$8,308,000	$6,902,000
Accounts receivable:
Beginning of year	630,000	560,000
End of year	610,000	630,000

a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.

20Y8: fill in the blank 1

20Y9: fill in the blank 2

b. Determine the days sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.

20Y8: fill in the blank 3 days

20Y9: fill in the blank 4 days