The aging of Thorne Designs is shown below. If the Allowance for Doubtful Accounts has a
credit balance of		$ 1,200.00
Required: Record the adjusting entry for the bad debt expense for the year, using the AR Aging method.
Age Interval		Balance	Percentage			30,625.00
Not Past due		875,000	3.50%			30,625.00
1-30 days past due		55,000	5.00%			2,750.00
31-60 days past due		19,750	10.00%			1,975.00
61-90 days past due		8,250	20.00%			1,519.50
91-180 days past due		5,065	30.00%			1,519.50
181-365 days past due		2,500	50.00%			1,087.75
Over 365 days past due		1,145	95.00%	Tota		70,101.75
Total		966,710
Date	Account Description	Debit	Credit
						71,301.75

1-B

	Remi, Inc. uses the Credit Sales method of accounting for uncollectible receivables: The company had $1,850,000 in sales and estimates a 2% uncollectable rate.
	Required: Journalize the entries to record the following:
	1	Record the adjusting entry at December 31, 2021. the end of the fiscal year, to
		record the bad debt expense. The accounts receivable account has a balance of			$ 750,000.00
		and the contra asset account before adjustment has a debit balance of			$ 600.00
		Analysis of the receivables indicates uncollectible receivables of			$ 18,000.00
	2	On March 1, 2021 wrote of Frild Co. Account as uncollectible. The account balance was			$ 400.00
	3	On November 1, 2021 Frild Co. made a payment on the account written off in March of			$ 250.00
	Date	Account Description	Debit	Credit