Financial Accounting: Chapter 8 Homework P8-3A, Journalize transactions related to bad debts. Presented below is an aging schedule for Bosworth Company. Total Customer Not Yet Due | 1-30 $9,000 | Number of Days Past Due 3160 | 61-90 $15,000 Over 90 Aneesh Bird 30,000 5,000 H5000 Ft 5,000 40,000 $24,000 30,000 50,000 38,000 120,000 $262,000 Cope DeSpears Others Total Estimated percentage uncollectible 38,000 72,000 $107,000 35,000 $49,000 13,000 $28,000 $40,000 $38,000 3% 20% 7% 12% 24% 60% Total estimated bad debts $42,400 $3,210 $3,430 $3.360 $9,600 $22,800 At December 31, 2016, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,000 Instructions: (a) Journalize and post the adjusting entry for bad debts at December 31, 2016. (Use T accounts.) Dec 31. 16 Amount Account title Account title Amount Bad Debts Expense Allowance for Doubtful Accounts (b) Journalize and post to the allowance account these 2017 events and transactions: 1. March 1, a $600 customer balance originating in 2016 is judged uncollectible. Amount 03/01/17 Account title Account title Amount $600 is received from the customer whose account was written off as uncollectible on 2. May 1, a check for March 1. Amount 05/01/17 Account title | Account title Amount Amount 05/01/17 Account title Account title Amount (c) Journalize the adjusting entry for bad debts at December 31, 2017, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,400 and the aging schedule indicates that total estimated bad debts will be $36,700 Amount 12/31/17 Account title Account title Amount