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Presented below is an aging schedule for Buffalo Industries at December 31, 2021. Number of Days Past Due Not Yet Due 61-90 Over 90 1-30

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Presented below is an aging schedule for Buffalo Industries at December 31, 2021. Number of Days Past Due Not Yet Due 61-90 Over 90 1-30 $9.100 31-60 $15,000 Customer Aneesh Bird Cope DeSpears Others Total $ 24,100 32,600 53,500 34,300 121.500 $266,000 $32,600 4.900 5,300 $43,300 $34,300 72.500 $110,000 35,100 $49,500 13,900 $28.900 $43,300 $34,300 3% 7% 12% Estimated percentage uncollectible Total estimated bad debts 26% 59% $ 41,728 $ 3,300 $3,465 $3,468 $11.258 $20,237 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,800. 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 Bad Debt Expense Debit Credit Allowance for Doubtful Accounts Post the adjusting entry for bad debts at December 31, 2021. Bad Debts Expense Allowance for Doubtful Accounts Journalize the 2022 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. March 1, a $580 customer balance originating in 2021 is judged uncollectible. 2. May 1 a check for $580 is received from the customer whose account was written off as uncollectible on March 1. No. Date Account Titles and Explanation Debit Cre 1. 2 (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 7,800 12/31 33,928 12/31 Bal. 41.728 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 $1,600 and the aging schedule indicates that total estimated bad debts will be $33,300. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit

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