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Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Presented below is an aging schedule for Sweet Acacia Industries at
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021.
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Number of Days Past Due Not Yet Due Customer Total 1 -30 Over 90 31-60 61-90 Aneesh $ 23,900 $ 8,100 $15,800 Bird 28,200 $ 28,200 Cope 49,500 4,500 5,100 $39,900 DeSpears Others 37,300 $37,300 127,700 76,000 38,100 13,600 $266,600 $108,700 $51,300 $29,400 $39,900 $37,300 Estimated percentage uncollectible 3% 7% 12% 25% 63% Total estimated bad debts $43,854 $3,261 $3,591 $3,528 $9,975 $23,499 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,600, & Your answer is partially correct. 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.) Amount Titles and Fynlanation nohit Credit Account Titles and Explanation Debit Credit Bad Debt Expense Allowance for Doubtful Accounts e Textbook and Media List of Accounts X Your answer is incorrect. Post the adjusting entry for bad debts at December 31, 2021. Bad Debts Expense Allowance for Doubtful Accounts * Your answer is incorrect. Journalize the 2022 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. March 1, a $630 customer balance originating in 2021 is judged uncollectible. 2. May 1, a check for $630 is received from the customer whose account was written off as uncollectible on March 1. No. Date Account Titles and Explanation Debit Credit 1. CD (To reinstate account previously written off) e Textbook 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.) Allowance for Doubtful Accounts 2021 12/31 Bal. 8.600 12/31 35.254 12/31 Bal. 43,854 2022 e Textbook and Media List of Accounts X Your answer is incorrect. 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 $1,500 and the aging schedule indicates that total estimated bad debts will be $36,200. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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