Question Content Area

Adjustment for uncollectible accounts

Below is the aging of receivables schedule for Evers Industries.

Aging of Receivables Schedule

November $30$

Customer Balance Not

Past Due $1-30$

Days

Past Due $31-60$

Days

Past Due $61-90$

Days

Past Due Over $90$

Days

Past Due

Subtotals $776,500458,100170,80069,90038,80038,900$

Boyd Industries $13,90013,900$

Hodges Company $21,50021,500$

Kent Creek Inc. $7,6007,600$

Lockwood Company $10,30010,300$

Van Epps Company $23,00023,000$

Totals $852,800481,100181,10077,50060,30052,800$

Percentage uncollectible $2\%6\%25\%35\%50\%$

Allowance for Doubtful Accounts $87,3689,62210,86619,37521,10526,400$

Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $ $18,345$ before adjustment on July $31.$

Journalize the adjusting entry for uncollectible accounts as of July $31.$ If an amount box does not require an entry, leave it blank.

DateAccountDebitCredit

July $31$

Bad Debt Expense

Allowance for Doubtful Accounts