Lets See those accounting skills!

Problem 9-03A a-c Presented below is an aging schedule for Sheridan Company. Not Yet Due Number of Days Past Due Over 1-30 31-60 61-90 90 $10,500 $11,000 Customer Anders Blake Total $ 21,500 40,900 58,300 34,500 132,600 $287,800 $ 40,900 16,500 6,500 Coulson Deleon Others $35,300 95,200 $152,600 16,200 $33,200 14,600 $25,600 $34,500 6,600 $41,100 $35,300 3% 6% 13% 25% 41% Estimated Percentage Uncollectible Total Estimated Bad Debts $ 35,574 $ 4,578 $ 1,992 $ 3,328 $ 8,825 $16,851 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500. Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Adjusting Journalize and post to the allowance account the following events and transactions in the year 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. On March 31, a $1,000 customer balance originating in 2020 is judged uncollectible. 2. On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31. No. Date Account Titles and Explanation Debit Credit 1. Mar. 31 2. May 31 (To reverse write-off) May 31 (To record collection of write off.) Debit Credit Allowance for Doubtful Accounts Date Explanation Ref. Dec. 31, 2020 Balance Dec. 31, 2020 Adjusting Balance 12,500 35,574 23,074 Mar. 31, 2021 May 31, 2021 Journalize the adjusting entry for bad debts on December 31, 2021, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $850 and the aging schedule indicates that total estimated bad debts will be $29,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31