Presented below is an aging schedule for Oriole Company at December 31, 2024. Number of Days Past Due Customer Total Not Yet Due Over 1-30 31-60 61-90 90 Aneesh $ 22,900 $8,800 $14,100 Bird 30,600 $30,600 Cope 46,700 5,300 5,300 DeSpears 35,500 $36,100 $35,500 Others 117,500 73,800 31,600 12,100 $253,200 $109,700 $45,700 $26,200 $36,100 $35,500 Estimated percentage 3% 7% 11% 26% 65% uncollectible Total estimated bad debts $41,833 $3,291 $3,199 $2,882 $9,386 $23,075 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,200. (a1) Journalize the adjusting entry for bad debts at December 31, 2024. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation List of Accounts Debit Crec

Presented below is an aging schedule for Oriole Company at December 31, 2024. Number of Days Past Due Customer Total Not Yet Due Over 1-30 31-60 61-90 90 Aneesh $ 22,900 $8,800 $14,100 Bird 30,600 $30,600 Cope 46,700 5,300 5,300 DeSpears 35,500 $36,100 $35,500 Others 117,500 73,800 31,600 12,100 $253,200 $109,700 $45,700 $26,200 $36,100 $35,500 Estimated percentage 3% 7% 11% 26% 65% uncollectible Total estimated bad debts $41,833 $3,291 $3,199 $2,882 $9,386 $23,075 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,200. (a1) Journalize the adjusting entry for bad debts at December 31, 2024. (List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation List of Accounts Debit Crec

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 3RE: Refer to RE22-2. Assume the pretax cumulative effect adjustment is 50,000. Prepare the journal entry...

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A summary of Klugman Company's December 31, 2024, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group: Age Group Amount % 0–60 days $ 53,000 0.5 61–90 days 18,500 1.0 91–120 days 2,300 10.0 Over 120 days 1,200 50.0 The allowance for uncollectible accounts had a balance of $1,330 on January 1, 2024. During the year, bad debts of $680 were written off. Required: Prepare all journal entries for 2024 with respect to bad debts and the allowance for uncollectible accounts.
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Current Attempt in Progress At December 31, 2022. the following information (in thousands) was available for Swifty Inc: ending inventory $22.200; beginning inventory $21.800; cost of goods sold $180,400, and sales revenue $435,00o. Calculate the inventory turnover and days in inventory for Swifty. (Round answers to 1 decimal places, e.g. 15.2. Use 365 days for calculation.) Inventory turnover times