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plz help! need help filling in all of the blanks The following is an aging schedule for a company's accounts receivable as at December 31,
plz help!
need help filling in all of the blanks
The following is an aging schedule for a company's accounts receivable as at December 31, 2019: Number of days past due Customer's name Total amount owed Current (not yet due) 1-30 31-60 61-90 Over 90 Aber $26,000 $9,000 $17,000 Bohr 43,000 $43,000 Chow 52,000 15,000 22.000 $15,000 Datz 26,000 $26,000 Others 158,000 95,000 15,000 13,000 15,000 20,000 $305,000 $153,000 $46,000 $30,000 $30,000 $46,000 Estimated percentage that will be 3% 6% 10% 25% 50% On December 31, 2019, the unadjusted balance in the Allowance for Doubtful Accounts (prior to the aging analysis) was a credit of $12.000 Journalize the adjusting entry for bad debts on December 31, 2019. (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.) Account Tities and Explanation Debit Credit Bad Debts Expense Allowance for Doubtful Accounts Journalize the following selected events and transactions in 2020: (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 for the amounts.) 1. On March 1, an $1,000 customer account that originated in 2020 is judged uncollectible. Hi On September 1, an $1,000 cheque is received from the customer whose account was written off as uncollectible on March 1. Date Account Titles and Explanation Debit Credit 2020 Mar. 1 Sept. 1 Mar. 1 Sept. 1 (To reinstate an account that was previously written off) (To record recovery of account that was previously written off) Journalize the adjusting entry for bad debts on December 31, 2020, assuming that the unadjusted balance in Allowance for Doubtful Accounts at that time is a debit of $1,000 and an aging schedule indicates that the estimated value of uncollectibles is $42,500. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31 Step by Step Solution
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