Problem 9-03A a-c Presented below is an aging schedule for Cheyenne Company. Number of Days Past Due Not Yet Due 61-90 Over 90 1-30 $11,800 31-60 $14,000 Customer Anders Blake Coulson Deleon Total $ 25,800 40,400 58,400 33,200 133,400 $291,200 $ 40,400 16,800 5,800 $35,800 Others 97,000 $154,200 16,300 $33,900 13,800 $27,800 $33,200 6,300 $39,500 $35,800 3% 6% 14% 24% 49% Estimated Percentage Uncollectible Total Estimated Bad Debts $ 38,499 $ 4,626 $ 2,034 $ 3,892 $ 8,592 $19,355 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,600. 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.) At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,600. 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 Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec. 31 Adjusting 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 $1,300 customer balance originating in 2020 is judged uncollectible. 2. On May 31, a check for $1,300 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.) Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31, 2020 Dec. 31, 2020 Balance Adjusting 11,600 38,499 26,899 Mar. 31, 2021 May 31, 2021 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 $770 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 Dec. 31