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Question 4 Presented below is an aging schedule for Metlock, Inc.. Customer Not Yet Due Number of Days Past Due Over 1-30 31-60 61-90 90 $10,600 $12,800 Anders Total $ 23,400 41,100 56,000 35,000 $ 41,100 15,100 5,500 Blake Coulson Deleon Others $35,400 131,500 $287,000 94,600 $150,800 15,500 $31,600 15,000 $27,800 $35,000 6,400 $41,400 $35,400 2% 5% 12% 25% 44% Estimated Percentage Uncollectible Total Estimated Bad Debts $ 34,998 $ 3,016 $ 1,580 $ 3,336 $ 8,850 $18,216 At December 31, 2019, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,500. Journalize the adjusting entry for bad debts at December 31, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually Date Account Titles Debit Credit Dec. 31, 2019 Bad Debt Expense 23498 Allowance for Doubtful Accounts 23498 Post the adjusting entry for bad debts at December 31, 2019. Bad Debt Expense 12/31/19 Bal. 12/31/19 Adj. Allowance for Doubtful Accounts Journalize the following events and transactions in the year 2020. (Credit account titles are automatically indented when am (1) On March 31, a $1,100 customer balance originating in 2019 is judged uncollectible. (2) On May 31, a check for $1,100 is received from the customer whose account was written off as uncollectible on March 31. No. Date Account Titles and Explanation Debit Credit (1) (2) (To reverse write-off) (To record collection of write-off) Post to the allowance account the events and transactions in the year 2020. Bad Debt Expense 23,498 12/31/19 Adj. 12/31/19 Bal. 23,498 Allowance for Doubtful Accounts 12/31/19 Bal. 11,500 12/31/19 Adj. 23,498 12/31/19 Bal. 34,998 Journalize the adjusting entry for bad debts on December 31, 2020, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $870 and the aging schedule indicates that total estimated bad debts will be $29,100. (Cred Date Account Titles Debit Credit LINK TO TY

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