Presented below is an aging schedule for Splish Brothers Inc. at December 31, 2021. Number of Days Past Due Customer Total Not Yet Due 1–30 31–60 61–90 Over 90 Aneesh $ 22,700 $10,700 $12,000 Bird 36,600 $ 36,600 Cope 55,600 5,000 6,500 $44,100 DeSpears 34,200 $34,200 Others 127,000 96,000 16,500 14,500 $276,100 $137,600 $33,700 $26,500 $44,100 $34,200 Estimated percentage uncollectible 3% 7% 12% 24% 60% Total estimated uncollectibles $ 40,771 $ 4,128 $ 2,359 $ 3,180 $ 10,584 $20,520 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,400. (a) Journalize the adjusting entry for bad debts at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Post the adjusting entry for bad debts at December 31, 2021. Bad Debt Expense choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit balance choose a transaction date enter a credit balance Allowance for Doubtful Accounts choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit balance choose a transaction date enter a credit balance

Presented below is an aging schedule for Splish Brothers Inc. at December 31, 2021. Number of Days Past Due Customer Total Not Yet Due 1–30 31–60 61–90 Over 90 Aneesh $ 22,700 $10,700 $12,000 Bird 36,600 $ 36,600 Cope 55,600 5,000 6,500 $44,100 DeSpears 34,200 $34,200 Others 127,000 96,000 16,500 14,500 $276,100 $137,600 $33,700 $26,500 $44,100 $34,200 Estimated percentage uncollectible 3% 7% 12% 24% 60% Total estimated uncollectibles $ 40,771 $ 4,128 $ 2,359 $ 3,180 $ 10,584 $20,520 At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,400. (a) Journalize the adjusting entry for bad debts at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Post the adjusting entry for bad debts at December 31, 2021. Bad Debt Expense choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit balance choose a transaction date enter a credit balance Allowance for Doubtful Accounts choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit balance choose a transaction date enter a credit balance

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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(a)

Journalize the adjusting entry for bad debts at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles	Debit	Credit
choose a transaction date	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Post the adjusting entry for bad debts at December 31, 2021.

Bad Debt Expense
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit balance	choose a transaction date	enter a credit balance
Allowance for Doubtful Accounts
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit amount	choose a transaction date	enter a credit amount
choose a transaction date	enter a debit balance	choose a transaction date	enter a credit balance

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			Number of Days Past Due
Customer	Total	Not Yet Due	1–30	31–60	61–90	Over 90
Aneesh	$ 22,700		$10,700	$12,000
Bird	36,600	$ 36,600
Cope	55,600	5,000	6,500		$44,100
DeSpears	34,200					$34,200
Others	127,000	96,000	16,500	14,500
	$276,100	$137,600	$33,700	$26,500	$44,100	$34,200
Estimated percentage uncollectible		3%	7%	12%	24%	60%
Total estimated uncollectibles	$ 40,771	$ 4,128	$ 2,359	$ 3,180	$ 10,584	$20,520