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Sweet Acacia Industries has accounts receivable of $97,200 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a
Sweet Acacia Industries has accounts receivable of $97,200 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $1,891 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. Balance, March 31 Estimated Percentage Age of Accounts Current 2022 2021 Uncollectible $64,800 $79,610 2 % 1-30 days past due 13,800 7,710 5 31-90 days past due 10,500 2,480 30 Over 90 days past due 8,100 1,170 50 $97,200 $90,970 (a) Your answer is correct. Determine the total estimated uncollectibles at March 31, 2022. The total estimated uncollectibles 9186 (b) eTextbook and Media List of Accounts Attempts: 2 of 3 used Your answer is partially correct. Prepare the adjusting entry at March 31, 2022, to record bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Bad Debt Expense Allowance for Doubtful Accounts Debit Credit
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