Journalize and post to the allowance account these 2027 selected events and transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) 1. On March 31, a $1,200 customer balance originating in 2026 is judged uncollectible 2. On May 31, a check for $1,200 is received from the customer whose account was written off as uncollectible on March 31 No. Date Account Titles and Explanation 1. Mar. 31 હું 2. May 31 May 31 (To reverse write-off) (To record collection of write off) Allowance for Doubtful Accounts Debit Credit Date Explanation Ref. Debit Credit Balance Dec. 31, Balance 12,100 2026 Dec. 31, Adjusting 19,610 31,710 2026 Mar. 31, 2027 May 31, 2027 Presented below is an aging schedule for Sunland Company at December 31, 2026. Number of Days Past Due Customer Total Not Yet Due Over 90 1-30 31-60 61-90 Anders $ 21,900 $10,100 $11,800 Blake 38,500 $ 38,500 Coulson 55,300 15,000 6,300 $34,000 Deleon 33,100 $33,100 Others 135,100 96,800 16,600 15,100 6,600 $283,900 $150,300 $33,000 $26,900 $34,000 $39,700 Estimated Percentage Uncollectible 196 5% 13% 27% 40% Total Estimated Bad Debts $31,710 $1,503 $1,650 $3,497 $9,180 $15,880 At December 31, 2026, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,100.
Journalize and post to the allowance account these 2027 selected events and transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) 1. On March 31, a $1,200 customer balance originating in 2026 is judged uncollectible 2. On May 31, a check for $1,200 is received from the customer whose account was written off as uncollectible on March 31 No. Date Account Titles and Explanation 1. Mar. 31 હું 2. May 31 May 31 (To reverse write-off) (To record collection of write off) Allowance for Doubtful Accounts Debit Credit Date Explanation Ref. Debit Credit Balance Dec. 31, Balance 12,100 2026 Dec. 31, Adjusting 19,610 31,710 2026 Mar. 31, 2027 May 31, 2027 Presented below is an aging schedule for Sunland Company at December 31, 2026. Number of Days Past Due Customer Total Not Yet Due Over 90 1-30 31-60 61-90 Anders $ 21,900 $10,100 $11,800 Blake 38,500 $ 38,500 Coulson 55,300 15,000 6,300 $34,000 Deleon 33,100 $33,100 Others 135,100 96,800 16,600 15,100 6,600 $283,900 $150,300 $33,000 $26,900 $34,000 $39,700 Estimated Percentage Uncollectible 196 5% 13% 27% 40% Total Estimated Bad Debts $31,710 $1,503 $1,650 $3,497 $9,180 $15,880 At December 31, 2026, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,100.
Chapter18: The Management Of Accounts Receivable And Inventories
Section: Chapter Questions
Problem 9P
Related questions
Question
Part B accounting
Transcribed Image Text:Journalize and post to the allowance account these 2027 selected events and transactions. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)
1. On March 31, a $1,200 customer balance originating in 2026 is judged uncollectible
2.
On May 31, a check for $1,200 is received from the customer whose account was written off as uncollectible on March
31
No. Date Account Titles and Explanation
1.
Mar.
31
હું
2.
May
31
May
31
(To reverse write-off)
(To record collection of write off)
Allowance for
Doubtful Accounts
Debit
Credit
Date Explanation Ref.
Debit
Credit
Balance
Dec. 31,
Balance
12,100
2026
Dec. 31,
Adjusting
19,610
31,710
2026
Mar. 31,
2027
May 31,
2027
Transcribed Image Text:Presented below is an aging schedule for Sunland Company at December 31, 2026.
Number of Days Past Due
Customer
Total
Not
Yet Due
Over 90
1-30
31-60
61-90
Anders
$ 21,900
$10,100 $11,800
Blake
38,500
$ 38,500
Coulson
55,300
15,000
6,300
$34,000
Deleon
33,100
$33,100
Others
135,100
96,800
16,600
15,100
6,600
$283,900
$150,300
$33,000
$26,900
$34,000
$39,700
Estimated Percentage Uncollectible
196
5%
13%
27%
40%
Total Estimated Bad Debts
$31,710
$1,503
$1,650
$3,497
$9,180
$15,880
At December 31, 2026, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,100.
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