Unit 2 Assignment Q8 a,b&c

Question 8 of 10 > -/6 IN Niew Policies Current Attempt in Progress Presented below is an aging schedule for Kingbird Company at December 31, 2021 Number of Days Past Due Customer Total Not Yet Due Over 90 61-90 1-30 31-60 $10,200 $13,900 Anders $ 24,100 Blake 40.100 $40.100 Coulson 56,100 16,300 5.000 $34,800 Deleon $33,600 Others 33,600 130,600 $284.500 96,600 15,100 13.400 5,500 $153.000 $30,300 $27,300 $34.800 $39.100 39% 596 13% 25% 4196 Estimated Percentage Uncollectible Total Estimated Bad Debts $ 34,385 $4590 $ 1.515 $3.549 $8.700 $16,031 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,800. (a) Journalize and post the adjusting entry for uncollectibles at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec 31 Adjusting Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31 Balance Dec 31 Adjusting eTextbook and Media List of Accounts Sa forte Attempts:0 of 5 used Submit Answer Sourralize and post to the allowance account these 2022 selected events and transactions. (Credit accountitles are automatically Indented when amount is entered Do not Indent manually 1 On March 31. a $1,300 customer balance originating in 2021 is judged uncollectible On May 31, a check for $1,300 is received from the customer whose account was written off as uncollectible on March 31 2 No. Date Account Titles and Explanation Debit Credit 1 Mar. 31 2 May 31 (To reverse write-off May 31 To record collection of write oft) Allowance for Doubtful Accounts Date Explanation Ref. Debit Credit Balance Dec. 31, Balance 2021 12.800 Dec 31, 2021 Adjusting 21585 34385 Mar. 31, 2022 May 31, 2022 eTextbook and Media List of Accounts Sau Attempt of 5 used PHILIPS (c) Journalize the adjusting entry for uncollectibles on December 31, 2022, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $880 and the aging schedule indicates that total estimated uncollectibles will be $31.000. (Credit account titles are automatically indented when amount is entered. Do not indent manually:) Date Account Titles Debit Credit Dec 31 e Textbook and Media List of Accounts Save for Later Attempts:0 of 5 used Submit