Homework Answers
| Age | Amount | % of uncollectible | Uncollectible amount (Amount*%) |
| Not yet due | $ 1,95,000 | 15% | $ 29,250 |
| 1-45 days | $ 27,100 | 20% | $ 5,420 |
| More than 45 days | $ 10,800 | 25% | $ 2,700 |
| Total Estimated uncollectible | $ 37,370 |
2. Journal entry will be:
| Debit Baddbet expenses ($48,700+$37,370) | $ 86,070 | |
| Credit Allowance for doubtful accounts | $ 86,070 |
here, allowance for doubtful account has a debit balance before adjustment. so it will add to 37,370 to get credit balance of 37,370
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