"Presented below is an aging schedule for a Company at December 31, 2021..." ...

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Accounting

"Presented below is an aging schedule for a Company at December 31, 2021..." image
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Presented below is an aging schedule for Oriole Company at December 31, 2021. Number of Days Past Due Customer Not Yet Due Over 90 Total 1-30 31-60 61-90 Aneesh $ 25,300 $ 9,600 $ 15,700 Bird 28,400 $ 28.400 Cope 50.800 5,500 5,200 $ 40,100 DeSpears 38.000 38,000 Others 119.500 75,200 31,800 12.500 $ 46,600 $ 28,200 $ 40,100 262.000 109,100 38,000 Estimated percentage uncollectible 3% 7% 13% 23% 59% Total estimated bad debts $ 41.844 $ 3.273 $ 3.262 $3,666 $ 9.223 $ 22.420 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,800. Journalize the adjusting entry for bad debts at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Journalize the adjusting entry for bad debts at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Tities and Explanation Debit Credit eTextbook and Media List of Accounts Post the adjusting entry for bad debts at December 31, 2021 Bad Debts Expense . Allowance for Doubtful Accounts Journalize the 2022 transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. March 1, a $ 540 customer balance originating in 2021 is judged uncollectible 2 May 1, a check for $540 is received from the customer whose account was written off as uncollectible on March 1 No. Date Account Titles and Explanation Debit Cret 1. 2 (To reinstate account previously written off) eTextbook and Media List of Accounts Post to the allowance account these 2022 events (Post entries in the order of journal entries posted in the previous part.) Allowance for Doubtful Accounts 2021 12/31 Bal 8,800 12/31 33,044 12/31 Bal. 41.844 2022 e Textbook and Media List of Accounts Journalize the adjusting entry for bad debts at December 31, 2022, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,500 and the aging schedule indicates that total estimated bad debts will be $ 35,100. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

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