Question

i More Info - Sales on account, $400.000. Ignore Cost of Goods Sold. . Collections on account. $391,200 Wrote off accounts receivable as uncollectible: Silver, Co., $1.200: Oliver Welch, $1.400; and Pristine, Inc., $400. Recorded bad debts expense based on the aging of accounts receivable, as follows: Age of Accounts Accounts Receivable Estimated percent uncollectible 1-30 Days 31-60 Days 61-90 Days Over 90 Days $ 96,000 S 36.000 S 17,000 $ 800 0.29 2% 2096 25 Print Done

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o Reapuirement open for bad to the I accounts for Accounts debts. Journalize the two accounts 2 Receivable & Allowance transactions & post credit Date Debit particolars 2018 4 400000 Accounts To Receivable ale or sales Revenue Alc. 400 000 cast $391200 Alc To o r Accounts Receivable ale $391200 S 1200 Allowance for Bad debts Alcor $3000 9o Accounts Receivable – Silerco so Accounts Receivable - stiker welch 50 Accounts Receivable - Pristine in & 1400 400 Dec $3912 Bod debts expense Ac Dr To Allowance for Bad [4.4512 - $ 600] debts &3912

of Accounts Receivable Tural Reccevables 31-60 over 90 Days 1-30 Days particulars Days $149800 & 800 $17000 $36000 Accounts Receivable 9 96000 424 x 204 X25% X0.2% percent Uncollectible 8700 $192 83400 $200 $4512 (Target balance) Estimated total un collectible Sep 30 Accounts receivable & 144000 $391200 collections $ 7000 &400000 1 Net credit sales write offs Dec 31 d. $149800 Allowance write offs won for Bad debts $3600 sep 30 bal. & boo unadjured balance. & 3912 $4512 Adjustment Dee 31. balance

park Reassigement : Terrace Balance December Medical centre sheet – partial 31, 2018 Assets a Amounts corrent Assets; Accounts Receivable Less: Allowance for $149800 (4513) bad debts $ 145288