Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 860,000 Age of Accounts Receivable Not yet due 1 to 30 days past due Expected Percent Uncollectible 1.30% 344,000 2.05 68,800 31 to 60 days past due 6.55 34,400 13,760 61 to 90 days past due Over 90 days past due 33.00 69.00 2. Prepare the adjusting entry to record bad debts expense at December 31. Note: Round percentage answers to nearest whole percent. Do not round intermediate calculations. View transaction list Journal entry worksheet 1 Record the estimated bad debts. Note: Enter debits before credits. Date December 31 General Journal Debit Credit

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter9: Receivables
Section: Chapter Questions
Problem 17E: Casebolt Company wrote off the following accounts receivable as uncollectible for the first year of...
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Required information
[The following information applies to the questions displayed below.]
On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000.
Jarden prepares a schedule of its December 31 accounts receivable by age.
Accounts
Receivable
$ 860,000
Age of Accounts Receivable
Not yet due
1 to 30 days past due
Expected Percent
Uncollectible
1.30%
344,000
2.05
68,800
31 to 60 days past due
6.55
34,400
13,760
61 to 90 days past due
Over 90 days past due
33.00
69.00
2. Prepare the adjusting entry to record bad debts expense at December 31.
Note: Round percentage answers to nearest whole percent. Do not round intermediate calculations.
View transaction list
Journal entry worksheet
1
Record the estimated bad debts.
Note: Enter debits before credits.
Date
December 31
General Journal
Debit
Credit
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 860,000 Age of Accounts Receivable Not yet due 1 to 30 days past due Expected Percent Uncollectible 1.30% 344,000 2.05 68,800 31 to 60 days past due 6.55 34,400 13,760 61 to 90 days past due Over 90 days past due 33.00 69.00 2. Prepare the adjusting entry to record bad debts expense at December 31. Note: Round percentage answers to nearest whole percent. Do not round intermediate calculations. View transaction list Journal entry worksheet 1 Record the estimated bad debts. Note: Enter debits before credits. Date December 31 General Journal Debit Credit
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