Question 4 of 7 .../1 E View Policies Current Attempt in Progress Presented below is an aging schedule for Concord Corporation at December 31, 2021. Number of Days Past Due Customer Not Yet Due Over 90 61-90 1-30 $11,200 31-60 $13,700 Aneesh Bird Cope DeSpears Others Total $24.900 33,600 58,500 33.300 125,600 $275.900 $33,600 6,800 5,800 $45.900 $33,300 97.100 15,200 $32,200 13,300 $27,000 $137.500 396 $33,300 7% Estimated Percentage Uncollectible Total Estimated Bad Debts $45.900 24% $ 11,016 60% $ 40,615 12% $3,240 $4,125 $2,254 $19.980 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,000. (a) You Question 4 of 7 Your answer has been saved. See score details after the due date. Journalize the adjusting entry for bad debts at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Credit Dec 31, 2021 Bad Debt Expense Allowance for Doubtful Accounts Debit 27,615 Post the adjusting entry for bad debts at December 31, 2021. Bad Debt Expense 27.615 12/31/21 Adi 12/31/21 Bal 27,615 Allowance for Doubtful Accounts 12/31/21 Bol 13,000 12/31/21 Ad) 27,615 12/31/21 Bal 2015 (b) Journalize the following events and transactions in the year 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) (2) March 1, a $1.200 customer balance originating in 2021 is judged uncollectible. May 1, a check for $1.200 is received from the customer whose account was written off as uncollectible on March 31 No. Date Account Titles and Explanation Debit (1) (2) (To reverse write-off) (To record collection of write-off) Post to the allowance account the events and transactions in the year 2022. 12/31/21 Adj. 12/31/21 Bal. Bad Debt Expense 27,615 27,615 Allowance for Doubtful Accounts 12/31/21 Bal. 12/31/21 Adj. 12/31/21 Bal 13,000 27,615 40,615 Save for Later Attempts: 0 of 1 used Submit