(c)Journalize the adjusting entry for uncollectibles at December 31, 2022, assuming that the unadjusted balance in Allowance forDoubtful Accounts is a debit of $870 and the aging schedule indicates that total estimated uncollectibles will be $29,100. (Creditaccount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for theaccount titles and enter O for the amounts.)DateAccount TitlesDebitCredit AneeshBirdCopeDeSpearsOthersEstimated percentage uncollectibleTotal estimated uncollectibles(a)Customer(b)No.Total(1)$ 23,40036,10056,00035,000DateNotYet Due$ 41,518$36,1005,100125,10094,600$275,600 $135,8003%$ 4,0741-30$10,600 $12,8005,50015,500Account Titles and ExplanationNumber of Days Past Due7%$2,21231-6015,000$31,600 $27,800 $45,400At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,500.61-9012%$45,40024%$3,336 $ 10,896Journalize the following events and transactions in the year 2022. (Credit account titles are automatically indented when amount isentered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)Over 90(1) March 1, a $1,100 customer balance originating in 2021 is judged uncollectible.(2)May 1, a check for $1,100 is received from the customer whose account was written off as uncollectible on March 1.$35,000Debit$35,00060%$21,000C

Accounts receivables are those customer accounts to whom credit sales has been made, but amount has…

Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated uncollectibles (a) (b) Customer No. Total $ 23,400 (1) 36,100 56,000 35,000 125,100 $275,600 Not Yet Due Date $36,100 5,100 3% 1-30 31-60 $10,600 $12,800 5,500 Number of Days Past Due 15,500 7% Account Titles and Explanation 94,600 $135,800 $31,600 $27,800 $45,400 $35,000 60% $21,000 15,000 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,500. 61-90 12% $45,400 24% $ 41,518 $ 4,074 $2,212 $3,336 $ 10,896 Journalize the following events and transactions in the year 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (1) March 1, a $1,100 customer balance originating in 2021 is judged uncollectible. (2) May 1, a check for $1,100 is received from the customer whose account was written off as uncollectible on March 1. Over 90 $35,000 Debit

Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated uncollectibles (a) (b) Customer No. Total $ 23,400 (1) 36,100 56,000 35,000 125,100 $275,600 Not Yet Due Date $36,100 5,100 3% 1-30 31-60 $10,600 $12,800 5,500 Number of Days Past Due 15,500 7% Account Titles and Explanation 94,600 $135,800 $31,600 $27,800 $45,400 $35,000 60% $21,000 15,000 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,500. 61-90 12% $45,400 24% $ 41,518 $ 4,074 $2,212 $3,336 $ 10,896 Journalize the following events and transactions in the year 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (1) March 1, a $1,100 customer balance originating in 2021 is judged uncollectible. (2) May 1, a check for $1,100 is received from the customer whose account was written off as uncollectible on March 1. Over 90 $35,000 Debit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Pachel corpolatian re Ports the per teining vecevicable Days Past Due 3-60 followinginfamethon to iti accounts cuNent 1-30 ever90 $2500 1200. $2000 Jhe companys cradit depaltment Plovided the following statement estima ter vegarding the pocent of occounts enfc ted to eventuallyy be writtenoff form. each category current veceveiNable receivables -30 days past due listed aboue aut standing rELENables 31-ho days past due 16 feceivables 6L-G0 days Pajt due receivable Cuer 20 days due. 90 Recold the company's uncollectible account afsuming it hal expense fredit balance for in its llawance Deuhtful accounts pror to the necessaty maling endjustment.
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