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Accounting

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www KINGDOM OF WAHAIN Ministry of Education Al Fateh Boys' Secondary School | ( 212) (3 Chapter) 10 xercise (3-6): sia Company uses the balance sheet approach to estimate bad debts. An analysis of the ccounts receivable at 31st December, 2020 produced the following age groups and the estimated percentage probably uncollectible: Period Accounts Provision for doubtful debts Provision % Receivable (BD) (BD) Not yet due 50,000 2% 1,000 1 - 30 days past due 30,000 5% 1,500 31 - 60 days past due 18,000 15% 29700 61 - 90 days past due 12,000 20% 2400 40% 10,000 Over 90 days past due 4,000 Total (1) 12. ZODY Prior to adjustments at 31st December, 2020 the allowance for doubtful debts showed a debit balance of BD2,500. Required: 123600 - 2,500 2.10, 100 1. Compute the estimated amount of Bad Debts. 2- Show the Journal entry to maintain the provision for doubtful debts to the proper. 3- Show the Journal entry to record write off BD 800. 4. Show the Journal entry to record recovery BD 600

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