JOURNAL ENTRIES FOR UNCOLLECTIBLE ACCOUNTS- ALLOWANCE METHOD Blocker Company estimates its uncollectible accounts based on an analysis of receivables. On December 31, a junior accountant prepared the following aging schedule for the company's $88,000 in outstanding receivables. Age Interval Not due.. 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Estimated Uncollectible Accounts % Amount Amount $58,650 13,220 8,930 4,000 3,200 $88.000 J. Kyle D. Mize.......... The Allowance for Doubtful Accounts currently has a $210 debit balance. 2% 4% 20% 30% 50% 1. Prepare the adjusting entry to record the company's estimate of uncollectible accounts. 2. $1,173 529 1,786 1,200 1,600 $6.288 Prepare the journal entry to write off the following accounts: T. Donaldson $ 700 450 1,000 3. Prepare the journal entry to record receipt of the $450 owed by J. Kyle. 4. Write an answer to the following question: What circumstances would cause the Allowance for Doubtful Accounts to have a debit balance prior to adjustment? Prepare the above journal entries in proper form. Thoroughly answer #4 in paragraph form using proper spelling, punctuation and grammar. Cite any sources that you use.

JOURNAL ENTRIES FOR UNCOLLECTIBLE ACCOUNTSALLOWANCE METHOD Blocker Company estimates its uncollectible accounts based on an analysis of receivables. On December 31, a junior accountant prepared the following aging schedule for the company's $88,000 in outstanding receivables. The Allowance for Doubtful Accounts currently has a $210 debit balance. 1. Prepare the adjusting entry to record the company's estimate of uncollectible accounts. 3. Prepare the journal entry to record receipt of the $450 owed by J. Kyle. 4. Write an answer to the following question: What circumstances would cause the Allowance for Doubtful Accounts to have a debit balance prior to adjustment? Prepare the above journal entries in proper form. Thoroughly answer \#4 in paragraph form using proper spelling, punctuation and grammar. Cite any sources that you use