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Please help!! I don't know how to do any of this problem, any help is appreciated so much! Presented below is an aging schedule for
Please help!! I don't know how to do any of this problem, any help is appreciated so much!
Presented below is an aging schedule for Sage Hill Inc..
Customer | Total | Not Yet Due | Number of Days Past Due | |||||||||
130 | 3160 | 6190 | Over 90 | |||||||||
Allen | $ 25,300 | $ 9,900 | $15,400 | |||||||||
Brian | 30,300 | $ 30,300 | ||||||||||
Charles | 9,400 | 4,600 | 4,800 | |||||||||
Dwight | 40,300 | $40,300 | ||||||||||
Others | 125,800 | 75,000 | 36,600 | 14,200 | ||||||||
$231,100 | $79,600 | $51,300 | $29,600 | $30,300 | $40,300 | |||||||
Estimated percentage uncollectible | 3% | 7% | 13% | 22% | 64% | |||||||
Total estimated bad debts | $ 42,285 | $ 2,388 | $3,591 | $3,848 | $ 6,666 | $25,792 |
At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,000.
Your answer is partially correct. Journalize the adjusting entry for bad debts at December 31, 2013. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Account Titles and Explanation Bad Debt Expense 37152 Allowance for Doubtful Accounts 37152 eTextbook and Media List of Accounts X Your answer is incorrect. Post the adjusting entry for bad debts at December 31, 2013. Bad Debts Expense Allowance for Doubtful Accounts eTextbook and Media Lict of Accounts X Your answer is incorrect. Journalize the 2014 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually) February 1, a $570 customer balance originating in 2013 is judged uncollectible. 1. July 1, a check for $570 is received from the customer whose account was written off as uncollectible on February 1. 2. Credit No. Date Account Titles and Explanation Debit 1 2. (To reinstate account previously written off) x Your answer is incorrect. Post to the allowance account these 2014 events. (Post entries in the order of journal entries posted in the previous part.) Al lowance for Doubtful Accounts 12/31 12/31 2013 Bal. 8,000 34,285 12/31 Bal. 42,285 2014 eTextbook and Media List of Accounts x Your answer is incorrect. Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,400 and the aging schedule indicates DES that total estimated bad debts will be $37,600. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Credit Debit eTextbook and Media List of Accounts
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