Problem 9-03A a-c Presented below is an aging schedule for Sheffield Company. Total Not Yet Due Number of Days Past Due Over 1-30 31-60 61-90 90 $10,500 $11,800 Customer Anders $ 22,300 40,600 $ 40,600 16,900 6,700 $34,000 Blake Coulson Deleon Others 57,600 33,500 133,200 $287,200 16,700 96,600 $154,100 13,600 $25,400 $33,500 6,300 $39,800 $33,900 $34,000 1% 6% 13% 25% 55% Estimated Percentage Uncollectible Total Estimated Bad Debts $ 37,267 $ 1,541 $ 2,034 $ 3,302 $ 8,500 $21,890 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,200. 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 Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Adjusting SHOW LIST OF ACCOUNTS LINK TO TEXT 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 1. Mar. 31 2. May 31 (To reverse write-off) May 31 (To record collection of write off.) Debit Credit Balance Allowance for Doubtful Accounts Date Explanation Ref. Dec 31, 2020 Balance Dec. 31. 2020 Adjusting 11,200 37,267 26,067 Mar. 31, 2021 May 31, 2021 SHOW LIST OF ACCOUNTS LINK TO TEXT 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 $30,400. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT