The following summarizes the aging of accounts receivable for Johnston Supplies, Incorporated as of July 31, 2022: 1 Number of Days Unpaid Not yet due 1 to 30 days past due 31 to 60 days past due Over 60 days past due Total Accounts Receivable $ 127,000 89,700 54,100 32,300 Historical % Uncollectible 3% 13% 19% 35% Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Incorporated is a credit balance in the amount of $29,097 on July 31, 2022. Prepare the required adjusting entry to record Bad Debt Expense for the year. b. Johnston Supplies, Incorporated writes off $3,131 of uncollectible accounts on August 15, 2022. Prepare the required adjusting entry to record the write-off. c. Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15, 2022. Required A Required B Required C 1 The unadjusted balance of the Allowance for Doubtful Accounts Johnston Supplies, Incorporated is a credit balance in the amount of $29,097 on July 31, 2022. Prepare the required adjusting entry to record Bad Debt Expense for the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry to record bad debt expense for the year July 31, 2022. Note: Enter debits before credits General Journal Debit Credit Date July 31, 2022 Record entry Clear entry View general journal Required A Required B Required C 1 Johnston Supplies, Incorporated writes off 53,131 of uncollectible accounts on August 15, 2022. Prepare the required adjusting entry to record the write-off. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry to write-off uncollectible accounts. Note: Enter debits before credits General Journal Debit Credit Date August 15, 2022 Record entry Clear entry View general journal Chapter 8. Homework A Seved Help Save & Exit Submit 1 Number of Days Unpaid Not yet due 1 to 30 days past due 31 to 60 days past due Over 60 days past due Total Accounts Receivable $ 127 8 82 89,700 54,100 32,300 Historical Uncollectible 3 3% 13% 19% 35% Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Incorporated is a credit balance in the amount of $29,097 on July 31, 2022. Prepare the required adjusting entry to record Bad Debt Expense for the year. b. Johnston Supplies, Incorporated writes off $3,131 of uncollectible accounts on August 15, 2022. Prepare the required adjusting entry to record the write-off. c. Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15, 2022. Complete this question by entering your answers in the tabs below. Required A A Required B Required C 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 Ending Balance
