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Presented below is an aging schedule for Ayayai Company at December 31, 2021. Number of Days Past Due Not Over 90 Customer Total Yet Due 1-30 31-60 61-90 Anders $23,600 $10,300 $13,300 Blake 39.500 $39,500 Coulson 57,300 15,700 6,100 $35,500 Deleon 34,400 $34,400 Others 132,900 96,600 16,000 13,300 7,000 $287,700 $151,800 $32,400 $26,600 $35,500 $41,400 Estimated Percentage Uncollectible 1% 6% 13% 24% 48% Total Estimated Bad Debts $35,312 $1,518 $ 1,944 $3,458 $8,520 $19,872 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500. (a) Journalize and post the adjusting entry for uncollectibles at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Dec. 31 Balance Dec. 31 Adjusting Ref. Debit Credit Balance

Presented below is an aging schedule for Ayayai Company at December 31, 2021. Number of Days Past Due Not Over 90 Customer Total Yet Due 1-30 31-60 61-90 Anders $23,600 $10,300 $13,300 Blake 39.500 $39,500 Coulson 57,300 15,700 6,100 $35,500 Deleon 34,400 $34,400 Others 132,900 96,600 16,000 13,300 7,000 $287,700 $151,800 $32,400 $26,600 $35,500 $41,400 Estimated Percentage Uncollectible 1% 6% 13% 24% 48% Total Estimated Bad Debts $35,312 $1,518 $ 1,944 $3,458 $8,520 $19,872 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500. (a) Journalize and post the adjusting entry for uncollectibles at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Dec. 31 Balance Dec. 31 Adjusting Ref. Debit Credit Balance

FINANCIAL ACCOUNTING
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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Presented below is an aging schedule for Ayayai Company at December 31, 2021. Number of Days Past Due Not Over 90 Customer Total Yet Due 1-30 31-60 61-90 Anders $23,600 $10,300 $13,300 Blake 39.500 $39,500 Coulson 57,300 15,700 6,100 $35,500 Deleon 34,400 $34,400 Others 132,900 96,600 16,000 13,300 7,000 $287,700 $151,800 $32,400 $26,600 $35,500 $41,400 Estimated Percentage Uncollectible 1% 6% 13% 24% 48% Total Estimated Bad Debts $35,312 $1,518 $ 1,944 $3,458 $8,520 $19,872 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500. (a) Journalize and post the adjusting entry for uncollectibles at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Dec. 31 Balance Dec. 31 Adjusting Ref. Debit Credit Balance
Transcribed Image Text:Presented below is an aging schedule for Ayayai Company at December 31, 2021. Number of Days Past Due Not Over 90 Customer Total Yet Due 1-30 31-60 61-90 Anders $23,600 $10,300 $13,300 Blake 39.500 $39,500 Coulson 57,300 15,700 6,100 $35,500 Deleon 34,400 $34,400 Others 132,900 96,600 16,000 13,300 7,000 $287,700 $151,800 $32,400 $26,600 $35,500 $41,400 Estimated Percentage Uncollectible 1% 6% 13% 24% 48% Total Estimated Bad Debts $35,312 $1,518 $ 1,944 $3,458 $8,520 $19,872 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500. (a) Journalize and post the adjusting entry for uncollectibles at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles Debit Credit Dec. 31 Bad Debts Expense Date Explanation Ref. Debit Credit Balance Dec. 31 Adjusting Allowance for Doubtful Accounts Date Explanation Dec. 31 Balance Dec. 31 Adjusting Ref. Debit Credit Balance
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