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Number of days past due Customer's name Total amount owed Current (not yet due) 1-30 31-60 61-90 Over 90 Begin $41,400 $11,100 $19,100 $7,000
Number of days past due Customer's name Total amount owed Current (not yet due) 1-30 31-60 61-90 Over 90 Begin $41,400 $11,100 $19,100 $7,000 $4,200 Cizeron 28,300 28,300 Lemoine 51,000 45,000 3,900 2,100 Rudellin 35,800 35,800 Others 208,100 90,400 68,100 11,000 19,000 19,600 $364,600 $174,800 $91,100 $53,800 $25,300 $19,600 Expected rate of credit loss 2% 4% 8% 15% 40% Expected credit losses $23,079 $3,496 $3,644 $4,304 $3,795 $7,840 On December 31, 2023, the unadjusted balance in the Allowance for Expected Credit Losses (prior to the aging analysis) was a credit of $5,980. (a) Journalize the adjusting entry to record the expected credit losses on December 31, 2023. (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 O for the amounts. List all debit entries before credit entries.)
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