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I am not sure what goes in the two boxes Presented below is an aging schedule for Blossom Company. Number of Days Past Due Not
I am not sure what goes in the two boxes
Presented below is an aging schedule for Blossom Company. Number of Days Past Due Not Yet Due Customer Total 1-30 31-60 61-90 Over 90 Anders $ 23,600 $10,000 $13,600 Blake 40,500 57,200 $40,500 16,700 Coulson 5,300 $35,200 Deleon 34,400 $34,400 Others Estimated Percentage Uncollectible 131,500 96,400 15,700 14,300 $287,200 $153,600 $31,000 $27,900 $35,200 3% 6% 12% 25% $ 37,971 $4,608 $1,860 $3,348 $8,800 5,100 $39,500 49% $19,355 Total Estimated Bad Debts At December 31, 2019, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000. Journalize the adjusting entry for bad debts at December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31, 2019 Bad Debt Expense 25971 Allowance for Doubtful Accounts 25971 Post the adjusting entry for bad debts at December 31, 2019. Bad Debt Expense 12/31/19 Adj. 25971 25971 Allowance for Doubtful Accounts 12/31/19 Bal. 12000 12/31/19 Adj. - 25971 12/31/19 Adj. 37971Step by Step Solution
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