Presented below is an aging schedule for Martinez Corp at December 31, 2021 ashboard Customer Aneesh Bird Number of Days Past Due Not Yet Over Total Due 1 30 31 60 61 90 90 $ 23,700 $9,300 $14,400 32,300 $32,300 47 100 5,000 4,800 $37,300 41,600 $41,600 117,700 71,000 34,100 12,600 $262 400 $108,300 $48,200 $27,000 $37,300 $41 600 3 7 11 24 63 Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts $44 753 $3,249 $3,374 $2,970 $8 952 $26,208 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,700 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 e Textbook and Media List of Art 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 $620 customer balance originating in 2021 is judged uncollectible 2 May 1, a check for $620 is received from the customer whose account was written off as uncollectible on March 1 Date Account Titles and Explanation Debit Credit No 1 (To reinstate account previously written off) eTextbook and Media List of Accounts Post to the allowance account these 2022 events (Post entries in the order of journal entries posted in the previous part ) 2021 7 700 Allowance for Doubtful Accounts 12 31 Bal 12 31 12 31 Bal 37,053 44,753 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 $1 300 and the aging schedule indicates that total estimated bad debts will be $33,000 edit account titles are automatically indented when amount is entered Do not indent manually) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts

Question

Presented below is an aging schedule for Martinez Corp at December 31, 2021  ashboard Customer Aneesh Bird Number of Days Past Due Not Yet Over Total Due 1 30 31 60 61 90 90 $ 23,700 $9,300 $14,400 32,300 $32,300 47 100 5,000 4,800 $37,300 41,600 $41,600 117,700 71,000 34,100 12,600 $262 400 $108,300 $48,200 $27,000 $37,300 $41 600 3  7  11  24  63  Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts $44 753 $3,249 $3,374 $2,970 $8 952 $26,208 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,700 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 e Textbook and Media List of Art 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 $620 customer balance originating in 2021 is judged uncollectible  2  May 1, a check for $620 is received from the customer whose account was written off as uncollectible on March 1 Date Account Titles and Explanation Debit Credit No  1 (To reinstate account previously written off) eTextbook and Media List of Accounts Post to the allowance account these 2022 events  (Post entries in the order of journal entries posted in the previous part ) 2021 7 700 Allowance for Doubtful Accounts 12 31 Bal  12 31 12 31 Bal  37,053 44,753 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 $1 300 and the aging schedule indicates that total estimated bad debts will be $33,000  edit account titles are automatically indented when amount is entered  Do not indent manually) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts

Accepted Answer

The Answer is in the image, click to view ...

Question

Presented below is an aging schedule for Martinez Corp.at December 31, 2021. ashboard Customer Aneesh Bird Number of Days Past Due Not Yet Over Total

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Critical Marketing Audit The Case Of Apple Inc.

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question