Problem 8 3A Presented below is an aging schedule for Bosworth Company Customer Total Not Yet Due Number of Days Past Due 1 30 31 60 61 90 Over 90 Aneesh $ 25,000 $ 10,000 $15,000 Bird 32,400 $ 32,400 Cope 49,100 5,600 8,400 $35,100 DeSpears 42,200 $42,200 Others 144,900 94,900 34,500 15,500 $293,600 $132,900 $52,900 $30,500 $35,100 $42,200 Estimated percentage uncollectible 4 6 14 28 70 Total estimated bad debts $ 52,128 $ 5,316 $3,174 $4,270 $ 9,828 $29,540 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,300 Journalize the adjusting entry for bad debts at December 31, 2013 (Credit account titles are automatically indented when amount is entered Do not indent manually ) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entry for bad debts at December 31, 2013 Bad Debts Expense 3 1 5 1 12 31 12 31Bal 3 1 5 1 12 31 12 31Bal 3 1 5 1 12 31 12 31 Bal 3 1 5 1 12 31 12 31Bal Allowance for Doubtful Accounts 3 1 5 1 12 31 12 31Bal 3 1 5 1 12 31 12 31Bal 3 1 5 1 12 31 12 31Bal 3 1 5 1 12 31 12 31 Bal 3 1 5 1 12 31 12 31Bal 3 1 5 1 12 31 12 31 Bal SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the 2014 transactions (Credit account titles are automatically indented when amount is entered Do not indent manually ) 1 March 1, a $760 customer balance originating in 2013 is judged uncollectible 2 May 1, a check for $760 is received from the customer whose account was written off as uncollectible on March 1 No Date Account Titles and Explanation Debit Credit 1 May 1 Dec 31 Mar 1 2 Dec 31 May 1 Mar 1 (To reinstate account previously written off) SHOW LIST OF ACCOUNTS LINK TO TEXT Post to the allowance account these 2014 events (Post entries in the order of journal entries posted in the previous part ) Allowance for Doubtful Accounts 2013 12 31 Bal 7,300 12 31 44,828 12 31 Bal 52,128 2014 3 1 5 1 12 31 3 1 5 1 12 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $2,200 and the aging schedule indicates that total estimated bad debts will be $50,000 (Credit account titles are automatically indented when amount is entered Do not indent manually ) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts 0 of 3 used SAVE FOR LATER SUBMIT ANSWER Copyright 2000 2016 by John Wiley Sons, Inc or related companies All rights reserved Problem 8 3A Presented below is an aging schedule for Bosworth Company Number of Days Past Due Customer Aneesh Bird Cope DeSpears Others Total $ 25,000 32,400 49,100 42,200 144,900 Not Yet Due 94,900 34,500 15,500 $293,600 $132,900 $52,900 $30,500 $35,100 4 6 14 28 $ 5,316 $3,174 $4,270 $ 9,828 $ 32,400 5,600 31 60 $15,000 8,400 61 90 $35,100 $ 52,128 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,300 Journalize the adjusting entry for bad debts at December 31, 2013 (Credit account titles are automatically indented when amount is entered Do not indent manually ) Account Titles and Explanation Debit Over 90 $42,200 Estimated percentage uncollectible Total estimated bad debts 1 30 $ 10,000 Credit Bad Debt Expe Allow ance for SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entry for bad debts at December 31, 2013 Bad Debts Expense Allowance for Doubtful Accounts $42,200 $29,540 SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the 2014 transactions (Credit account titles are automatically indented when amount is entered Do not indent manually ) 1 March 1, a $760 customer balance originating in 2013 is judged uncollectible May 1, a check for $760 is received from the customer whose account was written off as 2 uncollectible on March 1 No Date Account Titles and Explanation Debit Credit 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Post to the allowance account these 2014 events (Post entries in the order of journal 2 entries posted in the previous part ) Allowance for Doubtful Accounts 2013 12 31 Bal 7,300 (To reinstate account previously written off) 12 31 44,828 12 31 2014 SHOW LIST OF ACCOUNTS LINK TO TEXT Bal 52,128 Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $2,200 and the aging schedule indicates that total estimated bad debts will be $50,000 (Credit account titles are automatically indented when amount is entered Do not indent manually ) Account Titles and Explanation Debit Credit SHOW LISTExpe OF ACCOUNTS Bad Debt LINK TO TEXT Allow ance for Question Attempts 0 of 3 used SAVE FOR LATER Copyright 2000 2016 by John Wiley Sons, Inc or related companies All rights reserved SUBMIT

Question

Problem 8 3A Presented below is an aging schedule for Bosworth Company  Customer Total Not Yet Due Number of Days Past Due 1 30 31 60 61 90 Over 90 Aneesh $ 25,000 $ 10,000 $15,000 Bird 32,400 $ 32,400 Cope 49,100 5,600 8,400 $35,100 DeSpears 42,200 $42,200 Others 144,900 94,900 34,500 15,500 $293,600 $132,900 $52,900 $30,500 $35,100 $42,200 Estimated percentage uncollectible 4  6  14  28  70  Total estimated bad debts $ 52,128 $ 5,316 $3,174 $4,270 $ 9,828 $29,540 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,300  Journalize the adjusting entry for bad debts at December 31, 2013  (Credit account titles are automatically indented when amount is entered  Do not indent manually ) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entry for bad debts at December 31, 2013  Bad Debts Expense 3 1 5 1 12 31 12 31Bal  3 1 5 1 12 31 12 31Bal  3 1 5 1 12 31 12 31 Bal  3 1 5 1 12 31 12 31Bal  Allowance for Doubtful Accounts 3 1 5 1 12 31 12 31Bal  3 1 5 1 12 31 12 31Bal  3 1 5 1 12 31 12 31Bal  3 1 5 1 12 31 12 31 Bal  3 1 5 1 12 31 12 31Bal  3 1 5 1 12 31 12 31 Bal  SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the 2014 transactions  (Credit account titles are automatically indented when amount is entered  Do not indent manually ) 1  March 1, a $760 customer balance originating in 2013 is judged uncollectible  2  May 1, a check for $760 is received from the customer whose account was written off as uncollectible on March 1  No  Date Account Titles and Explanation Debit Credit 1  May 1 Dec  31 Mar  1 2  Dec  31 May 1 Mar  1 (To reinstate account previously written off) SHOW LIST OF ACCOUNTS LINK TO TEXT Post to the allowance account these 2014 events  (Post entries in the order of journal entries posted in the previous part ) Allowance for Doubtful Accounts 2013 12 31 Bal  7,300 12 31 44,828 12 31 Bal  52,128 2014 3 1 5 1 12 31 3 1 5 1 12 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $2,200 and the aging schedule indicates that total estimated bad debts will be $50,000  (Credit account titles are automatically indented when amount is entered  Do not indent manually ) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts  0 of 3 used SAVE FOR LATER SUBMIT ANSWER Copyright 2000 2016 by John Wiley   Sons, Inc  or related companies  All rights reserved  Problem 8 3A Presented below is an aging schedule for Bosworth Company  Number of Days Past Due Customer Aneesh Bird Cope DeSpears Others Total $ 25,000 32,400 49,100 42,200 144,900 Not Yet Due 94,900 34,500 15,500 $293,600 $132,900 $52,900 $30,500 $35,100 4  6  14  28  $ 5,316 $3,174 $4,270 $ 9,828 $ 32,400 5,600 31 60 $15,000 8,400 61 90 $35,100 $ 52,128 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7,300  Journalize the adjusting entry for bad debts at December 31, 2013  (Credit account titles are automatically indented when amount is entered  Do not indent manually ) Account Titles and Explanation Debit Over 90 $42,200 Estimated percentage uncollectible Total estimated bad debts 1 30 $ 10,000 Credit Bad Debt Expe Allow ance for SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entry for bad debts at December 31, 2013  Bad Debts Expense Allowance for Doubtful Accounts $42,200 $29,540 SHOW LIST OF ACCOUNTS LINK TO TEXT Journalize the 2014 transactions  (Credit account titles are automatically indented when amount is entered  Do not indent manually ) 1  March 1, a $760 customer balance originating in 2013 is judged uncollectible  May 1, a check for $760 is received from the customer whose account was written off as 2  uncollectible on March 1  No   Date Account Titles and Explanation Debit Credit 1 SHOW LIST OF ACCOUNTS LINK TO TEXT Post to the allowance account these 2014 events  (Post entries in the order of journal 2  entries posted in the previous part ) Allowance for Doubtful Accounts 2013 12 31 Bal  7,300 (To reinstate account previously written off) 12 31 44,828 12 31 2014 SHOW LIST OF ACCOUNTS LINK TO TEXT Bal  52,128 Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $2,200 and the aging schedule indicates that total estimated bad debts will be $50,000  (Credit account titles are automatically indented when amount is entered  Do not indent manually ) Account Titles and Explanation Debit Credit SHOW LISTExpe OF ACCOUNTS Bad Debt LINK TO TEXT Allow ance for Question Attempts  0 of 3 used SAVE FOR LATER Copyright 2000 2016 by John Wiley   Sons, Inc  or related companies  All rights reserved  SUBMIT

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Problem 8-3A Presented below is an aging schedule for Bosworth Company. Customer Total Not Yet Due Number of Days Past Due 1?30 31?60 61?90 Over

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