AB 116 WEEK 2 PROBLEM 9-A3

AB 116 WEEK 2 Problem 9 3A
Presented below is an aging schedule for Halleran Company





Number of Days Past Due
Customer

Total

Not
Yet Due

1-30

31-60

61-90

Over 90
Anders

$ 23,500



$10,400

$13,100




Blake

41,800

$ 41,800








Coulson

56,600

16,100

5,500



$35,000


Deleon

34,600









$34,600
Others

130,300

95,100

16,000

13,800

 

5,400


$286,800

$153,000

$31,900

$26,900

$35,000

$40,000
Estimated Percentage Uncollectible

 

3%

6%

13%

24%

47%
Total Estimated Bad Debts

$ 37,201

$ 4,590

$ 1,914

$ 3,497

$ 8,400

$18,800


At December 31, 2014, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,760.


Journalize and post the adjusting entry for bad debts at December 31, 2014. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Journalize and post to the allowance account the following events and transactions in the year 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(1)		On March 31, a $1,150 customer balance originating in 2014 is judged uncollectible.
(2)		On May 31, a check for $1,150 is received from the customer whose account was written off as uncollectible on March 31.
Journalize the adjusting entry for bad debts on December 31, 2015, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $850 and the aging schedule indicates that total estimated bad debts will be $32,100. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)