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The following summarizes the aging of accounts receivable for Johnston Supplies, Incorporated as of July 31, 2022: Number of Days Unpaid Total Accounts Receivable Historical

The following summarizes the aging of accounts receivable for Johnston Supplies, Incorporated as of July 31, 2022: Number of Days Unpaid Total Accounts Receivable Historical % Uncollectible Not yet due $ 126,600 3% 1 to 30 days past due 89,300 13% 31 to 60 days past due 53,700 19% Over 60 days past due 31,900 36% Required: The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Incorporated is a credit balance in the amount of $28,977 on July 31, 2022. Prepare the required adjusting entry to record Bad Debt Expense for the year. Johnston Supplies, Incorporated writes off $3,091 of uncollectible accounts on August 15, 2022. Prepare the required adjusting entry to record the write-off. Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15, 2022.

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Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15, 2022.

Allowance for Doubtful Accounts
Debit Credit
Beginning Balance 37,094
Write-off 3,091
Ending Balance 34,003

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