Jiffy T-shirts uses the allowance method for accounts receivable. The Allowance for Doubtful Accounts has a $925 debit balance. The current aging of accounts receivables and allowance for doubtful accounts percents are provided below.

Days Past Due Amount Allowance % Current 75,000 1% 1 to 30 days 34,000 5% 31 to 60 days 43,000 8% 61 to 90 days 5,600 15% Over 90 days 1,900 35% Total Accts Receivable 159,500

a) Fill in the missing entries in the table, then use to calculate Ending Allowance for Doubtful Accounts and Bad Debt Expense.

Days Past Due Amount Allowance % Allowed Amount Current 75,000 1% 1 to 30 days 34,000 5% 31 to 60 days 43,000 8% 61 to 90 days 5,600 15% Over 90 days 1,900 35% Total Accts Receivable 159,500

Ending Allowance for Doubtful Accounts:$

Bad Debt Expense: $

b)Prepare the Dec 31 Journal entry to record bad debt expense

DateDescriptionDebitCreditDec 31c) Postyour entry to the T-accounts

Bad Debt ExpenseAllowance for Doubtful Accounts