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3 (a). Following is the aging schedule of Zahir Company as of December 31, 2019. (Marks 6)

		Not Yet Due	Days Past Due
Name of Customers	Total Balance		1-30	31-60	61-90	Over 90
Umer Sons	17,100	9,000	5,400	-	2,700	-
Ishaq Brothers	25,200	14,400	-	7,200	-	3,600
YMC Company	3,600	-	3,600	-	-	-
Muna Services	14,400	7,200	-	2,700	4,500	-
Ali Company	23,400	18,000	-	-	-	5,400

The company has estimated 2%, 4%, 20%, 30% and 50% of bad debts in each time category of the account receivables.

You are required to:

1. Compute the amount of estimated uncollectable account.
2. Record the adjusting entry assuming that Allowance for Bad Debts currently has OMR 6.300 credit balance.
3. Record the adjusting entry assuming that Allowance for Bad Debts currently has OMR 600 debit balance.

		Not Yet Due	Days Past Due
Name of Customers	Total Balance		1-30	31-60	61-90	Over 90
Total A/c Receivable
Bad Debts Rates
Uncollectable Amount

(ii) Record the adjusting entry assuming that Allowance for bad debts currently has

OMR 6,300 credit balance.

Allowance for Bad Debts
Account Title	Amount Dr. (OMR	Account Title	Amount Cr. (OMR)
Total		Total

General Journal

Date	Particulars	Debit OMR	Credit OMR

3. Record the adjusting entry assuming that Allowance for bad debts currently has

OMR 600 debit balance.

Allowance for Bad Debts
Account Title	Amount Dr. (OMR	Account Title	Amount Cr. (OMR)
Total		Total

General Journal

Date	Particulars	Debit OMR	Credit OMR

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