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Post the adjusting entry for bad debts at December 31, 2021. Journalize the adjusting entry for bad debts at December 31, 2021. Enter the balances
Post the adjusting entry for bad debts at December 31, 2021.
Journalize the adjusting entry for bad debts at December 31, 2021.
Enter the balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts (use T-accounts), and determine the balances
Prepare the journal entry to record bad debt expense
Compute the accounts receivable turnover and average collection period, assuming the expected uncollectibles information provided
Presented below is an aging schedule for Pharoah Company at December 31, 2021. Number of Days Past Due Not Yet Due Over 90 Customer Total 1-30 31-60 61-90 Aneesh $ 21,900 $10,700 $11,200 Bird 33,800 $ 33,800 Cope 58,300 5,700 6.700 $45,900 DeSpears 34,300 $34,300 Others 126,700 96,400 15,700 14,600 $275,000 $135.900 $33,100 $25,800 $45,900 $34,300 Estimated percentage uncollectible 3% 7% 12% 24% 60% Total estimated uncollectibles $ 41,086 $ 4,077 $2,317 $3,096 $ 11,016 $20,580 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,000. Journalize the adjusting entry for bad debts at December 31, 2021. (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.) Date Account Titles Debit Credit Post the adjusting entry for bad debts at December 31, 2021. Bad Debt Expense Allowance for Doubtful Accounts Date Account Titles Debit Credit Post the adjusting entry for bad debts at December 31, 2021. Bad Debt Expense Allowance for Doubtful Accounts +
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