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Teal Mountain Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year...

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Teal Mountain Merchandising uses an aging schedule to determine its estimated uncollectible accounts at year end. The percentage estimates of bad debts are as follows: TEAL MOUNTAIN MERCHANDISING Aged Schedule of Accounts Receivable No. of Days Outstanding Estimated % Uncollectible Amount 0-30 days $61,100 0.55% 31-60 days 26,200 5.50% 61-90 days 11,500 18.00% Over 90 days 4.800 48.00% $103,600 Using the information above for Manoir Merchandising, prepare the adjusting entry to record bad debt expense for each of the following independent situations: (a) The Allowance for Doubtful Accounts has an unadjusted $1,760 debit balance and the company uses the aging schedule to determine estimated uncollectible accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.76.) TEAL MOUNTAIN MERCHANDISING Aged Schedule of Accounts Receivable Number of Days Outstanding Estimated % Uncollectible Estimated Uncollectible Accounts Amount 0-30 days $61,100 0.55% $ 31-60 days 26,200 5.50% 61-90 days 11,500 18.00% Over 90 days 4,800 48.00% $103,600 $

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