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Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $1,850.

Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows.

December 31, 2020 Accounts Receivable			Age of Accounts Receivable	Expected Percentage Uncollectible
$	126,000		Not due (under 30 days)		1	%
	36,000		1 to 30 days past due		4	%
	8,500		31 to 60 days past due		10	%
	2,000		Over 60 days past due		60	%

b. During 2021, credit sales were $1,129,000; sales discounts taken were $21,000; accounts receivable collected were $959,500; and accounts written off during the year totalled $22,000. Prepare the adjusting entry required on December 31, 2021, to estimate uncollectible receivables assuming it is based on the following aging analysis.

December 31, 2021 Accounts Receivable			Age of Accounts Receivable	Expected Percentage Uncollectible
$	220,000		Not due (under 30 days)		1	%
	68,000		1 to 30 days past due		4	%
	19,000		31 to 60 days past due		10	%
	13,000		Over 60 days past due		60	%

Winfrey Designs had an unadjusted credit balance in its Allowance for Doubtful Accounts at December 31, 2020, of $1.850. Required: a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. Expected Percentage Uncollectible December 31, 2028 Accounts Receivable $ 126,00 36,000 8.500 2,880 Age of Accounts Receivable Not due (under 30 days) 1 to 3e days past due 31 to 60 days past due Over 60 days past due Ger View transactions Journal entry worksheet Record the estimate for uncollectible accounts. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2020 Record entry Clear entry View general Journal b. During 2021. creates were su 29.000. sales son en were $2.000.ecco c ebe collected were $999.900.and Cut when during the year to $22000. Prepare the dangereured on December 31 2021 to be Debe recev o sed on the following da under 30 days) tese days at du Journal entry worksheet Record the estimate for uncollectible accounts. Dato General Journal Debit Credit December 31, 2021 Hardware Show how accounts receivable would appear on the December 31, 202. biance sheet Partia Balance sheet Dumort

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