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Presented below is an aging schedule for Blue Spruce Corp. at December 31, 2021. Number of Days Past Due Not Yet Due Customer Total 1-30
Presented below is an aging schedule for Blue Spruce Corp. at December 31, 2021. Number of Days Past Due Not Yet Due Customer Total 1-30 Over 90 31-60 61-90 Aneesh $24.500 $9,300 $15,200 Bird 27,800 46.800 $ 27,800 5,000 Cope 4,500 $37,300 DeSpears 35,900 $35.900 Others 115,600 70.900 32,100 12,600 $250,600 $103,700 $45,900 $27,800 $37,300 $35,900 Estimated percentage uncollectible 3% 7% 11% 24% 63% Total estimated bad debts $ 40,951 $3.111 $3,213 $3,058 $8.952 $22,617 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,100. 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.) Account Titles and Explanation Debit Credit Post the adjusting entry for bad debts at December 31, 2021. Bad Debts Expense Allowance for Doubtful Accounts e Textbook and Media List of Accounts Journalize the 2022 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. March 1, a $660 customer balance originating in 2021 is judged uncollectible. 2. May 1, a check for $660 is received from the customer whose account was written off as uncollectible on March 1. No. Date Account Titles and Explanation Debit Credit (To reinstate account previously written off) Post to the allowance account these 2022 events. (Post entries in the order of journal entries posted in the previous part.) Allowance for Doubtful Accounts 2021 12/31 Bal. 8,100 12/31 32,851 12/31 Bal. 40,951 2022 e Textbook and Media List of Accounts Journalize the adjusting entry for bad debts at December 31, 2022, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,400 and the aging schedule indicates that total estimated bad debts will be $40,300. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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