In-class activity 5- March 6, 2024 Name (a) Balance at January 1, 2025.. Provision for doubtful accounts.... Recovery in 2025 of bad debts written off previously. Sub-total PEECAN CORPORATION Analysis of Changes in the Allowance for Doubtful Accounts For the Year Ended December 31, 2025 Deduct write-offs for 2025 Balance at December 31, 2025, before change in accounting estimate.. Increase due to change in accounting estimate during 2025....... Balance at December 31, 2020, adjusted (Schedule 1) Schedule 1 Computation of Allowance for Doubtful Accounts at December 31, 2025 Aging Category Nov.-Dec. July-Oct. Jan.-June Prior to 1/1/25 Balance $760,000 $1,100,000 % 1 $86,000 Doubtful Accounts $7,600 (b) The journal entry to record the additional provision for bad debts as a result of the change in accounting estimate is as follows: (c) Accounts Receivable, net of Allowance of Doubtful Accounts (d) Present T-accounts for Accounts Receivable and Allowance for Doubtful Accounts for 2025.
In-class activity 5- March 6, 2024 Name (a) Balance at January 1, 2025.. Provision for doubtful accounts.... Recovery in 2025 of bad debts written off previously. Sub-total PEECAN CORPORATION Analysis of Changes in the Allowance for Doubtful Accounts For the Year Ended December 31, 2025 Deduct write-offs for 2025 Balance at December 31, 2025, before change in accounting estimate.. Increase due to change in accounting estimate during 2025....... Balance at December 31, 2020, adjusted (Schedule 1) Schedule 1 Computation of Allowance for Doubtful Accounts at December 31, 2025 Aging Category Nov.-Dec. July-Oct. Jan.-June Prior to 1/1/25 Balance $760,000 $1,100,000 % 1 $86,000 Doubtful Accounts $7,600 (b) The journal entry to record the additional provision for bad debts as a result of the change in accounting estimate is as follows: (c) Accounts Receivable, net of Allowance of Doubtful Accounts (d) Present T-accounts for Accounts Receivable and Allowance for Doubtful Accounts for 2025.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:In-class activity 5- March 6, 2024
Name
(a)
Balance at January 1, 2025..
Provision for doubtful accounts....
Recovery in 2025 of bad debts written off previously.
Sub-total
PEECAN CORPORATION
Analysis of Changes in the
Allowance for Doubtful Accounts
For the Year Ended December 31, 2025
Deduct write-offs for 2025
Balance at December 31, 2025, before change
in accounting estimate..
Increase due to change in accounting estimate
during 2025.......
Balance at December 31, 2020, adjusted (Schedule 1)
Schedule 1
Computation of Allowance for Doubtful Accounts
at December 31, 2025
Aging
Category
Nov.-Dec.
July-Oct.
Jan.-June
Prior to 1/1/25
Balance
$760,000
$1,100,000
%
1
$86,000
Doubtful
Accounts
$7,600
(b) The journal entry to record the additional provision for bad debts as a
result of the change in accounting estimate is as follows:
(c) Accounts Receivable, net of Allowance of Doubtful Accounts
(d) Present T-accounts for Accounts Receivable and Allowance for Doubtful Accounts for 2025.
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