Question

PO-JA Jouhallze ehthes to fecord trahsactons felated to bad debts Presented below is an aging schedule for Halleran Company Number of Days Past Due 31-60 61-90 Over 90 Customer Anders Blake Coulsorn Deleon Others Total Not yet Due 130 S 22,000 S 10,000 S 12,000 40,000 S 40,000 57,000 34,000 16,000 6,000 35,000 34,000 6.000 26,000 $ 35,000 $ 40,000 132,000 14,000 16,000 285,000 152,000 $ 32,000 96,000 Estimated Percentage Uncollectible Total Estimated Bad Debts 3% 6% 13% 25% 50% S 38,610 S 4,560 S 1,920 S 3,380 S 8,750 $ 20,000 At December 31, 2015, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000 Instructions (a) Journalize and post the adjusting entry for bad debts at December 31, 2015 (b) Journalize and post the allowance account the following events and transactions in the year 2016 (1) On March 31, a $1,000 customer balance originating in 2015 is judged uncollectible (2) On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31 (c) Journalize the adjusting entry for bad debts on December 31, 2016, assuming that the unadjusted balance in the Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated bac debts will be $31,600 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a”?”