Hi, I was able to answer the first few parts but didn't know the last. Any help is appreciated!
El Your answer is incorrect. Try again. Journalize the adjusting entry for bad debts on December 31, 2020, assuming that the unadjusted balance in Allowance for Doubtful Accounts at that time is a debit of $1,000 and an aging schedule indicates that the estimated value of uncollectibles is $37,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation it edit WWW Your answer is correct. Journalize the following selected events and transactions in 2020: (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter a for the amounts.) i. On March 1, an $1,300 customer account that originated in 2020 is judged uncollectlble. II On September 1, an $1,300 cheque ls received from the customer whose account was written off as uncollectlble on March 1. Account Titles and Explanation Debit \" Allowance for Doubtful Accounts 1,300 Accounts Receivable _ 1,300 v Sept. 1 Accounts Receivable m _ _' Mar. 1 ! Allowance for Doubtful Accounts 1,300 (To reinstate an aooount that was previously written off) Accounts Receivable - 1,300 (To record recovery of account that was previously written off) Cash |K |K E! Application Problem 6-7A a-c The following is an aging schedule for a company's accounts receivable as at December 31, 2019: Number of days past due Total amount Current (not Customer's name owed yet due) 1-30 31-60 61-90 Over 90 Aber $38,000 $9,000 $29,000 Bohr 36,000 $36,000 Chow 50,000 15,000 20,000 $15,000 Datz 30,000 $30,000 Others 158,000 95,000 15,000 13,000 15,000 20,000 $312,000 $146,000 $44,000 $42,000 $30,000 $50,000 Estimated percentage that will be 3% 6% 10% 25% 50% uncollectible Estimated value of uncollectibles $43,720 $4,380 $2,640 $4,200 $7,500 $25,000 On December 31, 2019, the unadjusted balance in the Allowance for Doubtful Accounts (prior to the aging analysis) was a credit of $19,000. Your answer is correct. Journalize the adjusting entry for bad debts on December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Bad Debts Expense 24,720 Allowance for Doubtful Accounts 24,720