Problem 8-03A a-c (Video) Presented below is an aging schedule for Monty Corp.. Not Yet Due Number of Days Past Due Over 1-30 31-60 61-90 90 $10,300 $13,300 Customer Anders Blake Coulson Deleon Others Total $ 23,600 39,500 57,300 34,400 132,900 $287,700 $ 39,500 15,700 6,100 $35,500 96,600 $151,800 16,000 $32,400 13,300 $26,500 $34,400 7,000 $41,400 $35,500 1% 6% 13% 24% 48% Estimated Percentage Uncollectible Total Estimated Bad Debts $ 35,312 $1,518 $1,944 $3,458 $8,520 $19,872 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500. Journalize and post the adjusting entry for bad debts at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Bad Debt Expense Allowance for Doubtful Accounts Journalize and post to the allowance account the following events and transactions in the year 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) On March 31, a $1,000 customer balance originating in 2020 is judged uncollectible. (2) On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31. No. Date Account Titles and Explanation Debit Credit (2). (To reverse write-off) (To record collection of write-off.) 12/31/20 Adj. 12/31/20 Bal. Bad Debt Expense 22,812 22,812 Allowance for Doubtful Accounts 12/31/20 Bal. 12/31/20 Adj. 12/31/20 Bal. 12,500 22,812 35,312 SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR PROBLEM Journalize the adjusting entry for bad debts on December 31, 2021, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $870 and the aging schedule indicates that total estimated bad debts will be $29,900. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit SHOW LIST OF ACCOUNTS