Requirements
	1. Journalize the year-end adjusting entry for uncollectible accounts on the basis of the aging schedule. Calculate the resulting ending balance of the Allowance account based on the account aging. Show the T-account for the Allowance on January 31, 2014. 2. Assume that instead of a $4,100 credit balance, there is a $900 debit balance in the Allowance account prior to adjustment. Journalize the year-end adjusting entry for uncollectible accounts on the basis of the aging schedule. Calculate the resulting ending balance of the Allowance account based on the account aging. Show the T-account for the Allowance on January 31, 2014.
Req. 1
	Journal
	DATE	ACCOUNTS AND EXPLANATIONS					POST REF.	Dr.	Cr.
	2014
	Computations:
	Balance needed in allowance account:
	Adjusting entry amount:
	Allowance for uncollectible accounts
Req. 2
	Journal
	DATE	ACCOUNTS AND EXPLANATIONS					POST REF.	Dr.	Cr.
	2014
	Computations:
	Allowance for uncollectible accounts

ET.23A Aging of accounts receivable allowance method (Learning objective 4) 15-20 min. On January 31, 2014, the Accounts Receivable balance of Advanced Automotive Technology is $270,000. The Allowance for Uncollectible Accounts has a $4,100 credit balance. Advanced Automotive Technology prepares the following aging schedule for its accounts receivable: Age of Accounts 1-30 31-60 61-90 Over 90 Days Days Days Days Accounts Receivable $120,000 $75,000 $65,000 $10,000 Estimated Percentage Uncollectible 0.4% 2.0% 10.0% 45% Requirements 1. Journalize the year-end adjusting entry for uncollectible accounts on the basis of the aging schedule. Calculate the resulting ending balance of the Allowance account based on the account aging. Show the Taccount for the Allowance on January 31, 2014. 2. Assume that instead of a $4,100 credit balance, there is a $900 debit balance in the Allowance account prior to adjustment. Journalize the year-end adjusting entry for uncollectible accounts on the basis of the aging schedule. Calculate the result- ing ending balance of the Allowance account based on the account aging. Show the Taccount for the Allowance on January 31, 2014