Presented below is an aging schedule for Sheridan Company at December 31, 2024. Customer Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts Not Yet Due $41,728 Total $24,100 32,600 53,500 34.300 121,500 72.500 $266,000 $110.000 $49,500 $28.900 $43,300 $32.600 4,900 3% $3,300 1-30 $9.100 5,300 35,100 Number of Days Past Due $3,465 31-60 $15,000 13,900 12% 61-90 $43,300 26% Over 90 $34.300 $34,300 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800 U.O 59% 53,468 $11.258 $20.237 !! ..
Presented below is an aging schedule for Sheridan Company at December 31, 2024. Customer Aneesh Bird Cope DeSpears Others Estimated percentage uncollectible Total estimated bad debts Not Yet Due $41,728 Total $24,100 32,600 53,500 34.300 121,500 72.500 $266,000 $110.000 $49,500 $28.900 $43,300 $32.600 4,900 3% $3,300 1-30 $9.100 5,300 35,100 Number of Days Past Due $3,465 31-60 $15,000 13,900 12% 61-90 $43,300 26% Over 90 $34.300 $34,300 At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800 U.O 59% 53,468 $11.258 $20.237 !! ..
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Presented below is an aging schedule for Sheridan Company at December 31, 2024.
Customer
Aneesh
Bird
Cope
DeSpears
Others
Estimated percentage
uncollectible
Total estimated bad debts
Total
$24,100
32,600
53,500
34.300
121,500
$266,000
$41,728
Not Yet
Due
$32,600
4,900
72.500
$110.000
3%
$3,300
1-30
31-60
$9.100 $15,000
5,300
35,100
Number of Days Past Due
$49,500
13,900
61-90
12%
$43,300
$28.900 $43,300
26%
Over
90
$34.300
$34,300
At December 31, 2024, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $7.800.
59%
$3,465 53,468 $11.258 $20.237
!!
..
Transcribed Image Text:(a2)
Post the adjusting entry for bad debts at December 31, 2024. (Post entries in the order of journal entries presented in the previous
part.)
eTextbook and Media
Bad Debt Expense
Allowance for Doubtful Accounts
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