Delta Company has found that, historically, 0.5% of its current accounts receivable, 1% of accounts | to 30 days past due, 1.5% of accounts 31 to 60 days past due, 3% of accounts 61 to 90 days past due, and 10% of accounts over 90 days past due are uncollectible. The following schedule shows an aging of the accounts receivable as of December 31, 2003:

4. Assume that Allowance for Bad Debts at December 31, 2003, had a debit balance of $113 instead of a credit balance of $113. Make the necessary adjusting journal entry that would be needed on December 31, 2003.

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Balance Days Past Due Current 1-30 31-60 $45,600 $9,850 $4,100 61-90 Over 90 $850 $195 The balances at December 31, 2003, in selected accounts are as follows. (Assume that the allowance method is used.) Sales revenue. Sales returns. Allowance for bad debts. $120,096 1,209 113 (credit balance) 1. Given these data, make the necessary adjusting entry (or entries) for uncollectible ac- counts receivable on December 31, 2003. 2. On February 14, 2004, Lori Jacobs, a customer, informed Delta Company that she was going bankrupt and would not be able to pay her account of $46. Make the appropriate entry (or entries). 3. On June 29, 2004, Lori Jacobs was able to pay the amount she owed in full. Make the appropriate entry (or entries).