Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Presented below is an aging schedule for Carla Vista Company at December 31, 2024. Aneesh Bird Cope DeSpears Others Customer Estimated percentage uncollectible Total estimated
Presented below is an aging schedule for Carla Vista Company at December 31, 2024. Aneesh Bird Cope DeSpears Others Customer Estimated percentage uncollectible Total estimated bad debts (a1) Total Date $22,700 28,100 49,900 41,300 120,200 $262,200 $44,915 Not Yet Due $ 28,100 Account Titles and Explanation 5,400 70,900 $104,400 3% $3,132 1-30 $8,600 4,800 36,800 $50,200 6% $3,012 Number of Days Past Due 31-60 $14,100 12,500 $26,600 12% $3,192 61-90 $39,700 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,900. Debit $39,700 22% $8,734 Over 90 $41,300 $41,300 Journalize the adjusting entry for bad debts at December 31, 2024. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 65% $26,845 Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started