Q1/

Benton Corporation has accounts receivable of $94,200 at March 31, 2018. An analysis of the accounts shows these amounts.

		Balance, March 31
Month of Sale		2018		2017
March (current)		$64,600		$76,200
February (1 30 days past due)		12,000		8,500
December and January (31 90 days past due)		10,800		2,600
(over 90 days past due)		6,800		1,300
		$94,200		$88,600

Credit terms are 2/10, n/30. At March 31, 2018, there is an unadjusted $2,200 credit balance in Allowance for Doubtful Accounts. The company uses the percentage of receivables by age category for estimating uncollectible accounts Bentons estimates of bad debts are as shown below.

Age of Accounts		Estimated Percentage Uncollectible
Current		3%
130 days past due		5%
3190 days past due		30%
Over 90 days past due		50%

A/

Prepare an aging schedule to determine the total estimated uncollectibles at March 31, 2018.

Accounts Receivable		Amount		%		Estimated Uncollectible
Current		$				$
130 days past due
3190 days past due
Over 90 days past due
						$

B/

Prepare the adjusting entry at March 31, 2018, to record bad debts expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Mar. 31