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	$ 11,000	$14,000
Bird	33,300	$ 33,300
Cope	60,800	6,600	7,000	$47,200
DeSpears	44,800	$44,800
Others		152,900		83,300		39,800		29,800
		$316,800		$123,200		$57,800		$43,800		$47,200		$44,800
Estimated percentage uncollectible			3%		7%		11%		23%		70%
Total estimated bad debts		$ 54,776		$ 3,696		$4,046		$4,818		$ 10,856		$31,360

At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,400.

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

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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.

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Journalize the 2014 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

1.	March 1, a $800 customer balance originating in 2013 is judged uncollectible.
2.	May 1, a check for $800 is received from the customer whose account was written off as uncollectible on March 1.

No.	Date	Account Titles and Explanation	Debit	Credit
1.	Mar. 1 May 1 Dec. 31
2.	Mar. 1 May 1 Dec. 31
(To reinstate account previously written off)

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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.	8,400
		12/31		46,376
		12/31	Bal.	54,776
2014
3/1 5/1 12/31		3/1 5/1 12/31

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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 $3,100 and the aging schedule indicates that total estimated bad debts will be $44,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit

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 33,300 60,800 44,800 152,900 $316,800 Not Yet Due $ 54,776 31-60 $ 11,000 $14,000 61-90 Over 90 $ 33,300 6,600 7,000 83,300 39,800 29,800 $123,200 $57,800 $43,800 $47,200 $44,800 3% 7% 11% 23% 70% $ 3,696 $4,046 $4,818 $ 10,856 $31,360 $47,200 $44,800 Estimated percentage uncollectible Total estimated bad debts 1-30 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,400. 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 Allowance for Doubtful Accounts 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 $800 customer balance originating in 2013 is judged uncollectible. May 1, a check for $800 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. 8,400 (To reinstate account previously written off) 12/31 46,376 12/31 2014 Bal. 54,776 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 $3,100 and the aging schedule indicates that total estimated bad debts will be $44,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit