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Question 24 An aging analysis of Blessom Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Estimated
Question 24 An aging analysis of Blessom Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Estimated 46 Outstanding Uncollectible 2021 2020 0-30 days 594,000 5115,000 31 60 days 5% 23,500 57,500 6-90 days 47,000 34,500 Over 90 days 70,500 23,000 Total $225,000 $230,000 Additional information: 1. A December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts was a credit 55,600. 2. In 2021, 523,500 cl accounts was written off as uncollectible and $2.200 of accounts previously written off was collected Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2020, and at December 31, 2021. 2020 Number of Days Outstanding 96 Estimated Uncollectible 0-30 days Amount 5115,000 s 31 60 days 57,500 596 61-90 days 34,500 1296 Over 90 days 23,000 $230,000 Total 2023 Number of Days Outstanding 0-30 days 96 Estimated Uncollectible Amount 594,000 S 23,500 5% 31-60 days 61-90 days 47,000 20,500 Over 90 days 25% $225,000 SHOW LIST OF ALCOUNTS Calculate the carrying amount of Blessom's accounts receivable at December 31, 2020, and December 31, 2021. 2020 2021 Carrying amount SHOW LIST OF ACCOUNTS Record the following: 1. The adjusting entry on December 31, 2020, 2. The write off of uncollectible accounts in 2021. 3. The collection in 2021 of accounts previously written off. 4. The adjusting entry on December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not incest manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit 1. (Te record estimate of incolectible accounts.) 2
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