Problem 7-3A (Algo) Aging accounts receivable and accounting for bad debts LO P2, P3

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On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,000. Jarden prepares a schedule of its December 31 accounts receivable by age.

Accounts Receivable Age of Accounts Receivable Expected Percent Uncollectible

$ 860,000 Not yet due 1.25%

344,000 1 to 30 days past due 2.00

68,800 31 to 60 days past due 6.50

34,400 61 to 90 days past due 32.75

13,760 Over 90 days past due 68.00

Problem 7-3A (Algo) Part 2

2. Prepare the adjusting entry to record bad debts expense at December 31.

Note: Round percentage answers to nearest whole percent. Do not round intermediate calculations.

Journal entry worksheet Record the estimated bad debts. Note: Enter debits before credits