P8-3A

Problems: Se (1) On March 31, a $1,000 customer balance originating in 2015 is judged uncollectible (2) On May 31, a check for $1.000 is received from the customer whote account was written off as uncollectible on March 31. (c) Journalize the adjusting entry for bad debts on December 31,2016, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated bad debts will be $31,600 Bad det P8-4A Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable Joaurnalice tra The company produced the following aging of the accounts recelvable at year-end. relazed to bad of Days Outstanding Total 0-30 61-90 91-120 Over 120 000 77,000 46,000 39,000 23,000 $15,000 8%20% 4 unts receivable 1% (al Tot estimated bad debts based on the above information end adjusting journal entry to record the bad debts using the aged iccouptsreceivable determined in (a). Assume the current balance in 00 is determined to be specifically uncollectible. Prepare absequently on a specific account that had previously nts is a $8,000 debit. e uncollectible account. collectible in (c). Prepare the journal entry(ies) necessary to ers to (a)-(d) would change if Rigney Inc. used 4% of record the rivable. What are the