Estimated percentage uncollectible 1% 3% 9% 20% 40% Total estimated uncollectible accounts $ 33,480 $ 1,220 $ 2,610 $ 4,050 $ 4,800 $20,800 111511119 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $9,000. Problems: Set B 437 Instructions (a) Journalize and post the adjusting entry for bad debts at December 31, 2013. (Use T-accounts.) (b) Journalize and post to the allowance account these 2014 events and transactions: 1. February 1, a $900 customer balance originating in 2013 is judged uncollectible. 2. July 1, a check for $900 is received from the customer whose account was writ- ten off as uncollectible on February 1.

Estimated percentage uncollectible 1% 3% 9% 20% 40% Total estimated uncollectible accounts $ 33,480 $ 1,220 $ 2,610 $ 4,050 $ 4,800 $20,800 111511119 At December 31, 2013, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $9,000. Problems: Set B 437 Instructions (a) Journalize and post the adjusting entry for bad debts at December 31, 2013. (Use T-accounts.) (b) Journalize and post to the allowance account these 2014 events and transactions: 1. February 1, a $900 customer balance originating in 2013 is judged uncollectible. 2. July 1, a check for $900 is received from the customer whose account was writ- ten off as uncollectible on February 1.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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