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The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016 Number of Days Unpaid Not yet due 1-30
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016 Number of Days Unpaid Not yet due 1-30 days past due 31-60 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, Inc. is a credit balance in the amount of $29,097 on July 31, 2016. 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 View journal entry worksheet No Date General Journal Debit Credit 1July 31, 2016 No Transaction Recorded
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