90.2K

Verified Solution

Question

Accounting

Problem 8-3A (Part Level Submission)

Presented below is an aging schedule for Bosworth Company.

Customer

Total

Not Yet Due

Number of Days Past Due

130

3160

6190

Over 90

Aneesh

$ 33,000

$ 11,000

$22,000

Bird

43,100

$ 43,100

Cope

56,700

6,800

6,500

$43,400

DeSpears

44,400

$44,400

Others

138,500

72,300

49,400

16,800

$315,700

$122,200

$66,900

$38,800

$43,400

$44,400

Estimated percentage uncollectible

3%

8%

15%

22%

60%

Total estimated bad debts

$ 51,026

$ 3,666

$5,352

$5,820

$ 9,548

$26,640

At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,400.

(a1)

Your answer is correct.

Journalize the adjusting entry for bad debts at December 31, 2013. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation

Debit

Credit

Show List of Accounts

Show Solution

Link to Text

Attempts: 1 of 5 used

(a2)

Your answer is partially correct. Try again.

Post the adjusting entry for bad debts at December 31, 2013.

Bad Debts Expense

Allowance for Doubtful Accounts

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students