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s displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its
s displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Age of Accounts Receivable Not yet due Expected Percent Uncollectible Accounts Receivable $860,000 344,000 1.25% 2.00 68,800 6.50 34,400 13,760 61 to 90 days past due 32.75 Over 90 days past due 68.00 1 to 30 days past due 31 to 60 days past due Problem 7-3A (Algo) Part 1 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Accounts Receivable Percent Uncollectible (#.##%) Estimated Uncollectible Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles $ Journal entry worksheet Record the estimated bad debts. Note: Enter debits before credits. Date December 31 General Journal Debit Credit View general journal Record entry Clear entry
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