Question

Problem 8-03A a-c (Part Level Submission) (Video) Presented below is an aging schedule for Sheridan Company. Number of Days Past Due Not Over Total Yet Due 1-30 31-60 61-90 90 Customer Anders $21,500 $10,500 $11,000 Blake 40,900 $ 40,900 Coulson $35,300 58,300 16,500 6,500 Deleon $34,500 34,500 Others 132,600 95,200 16,200 14,600 6,600 $287,800 $152,600 $33,200 $25,600 $35,300 $41,100 Estimated 3% 6% 13% 25% 41% Percentage Uncollectible Total Estimated Bad Debts 35,574 $4,578 $1,992 $3,328 $8,825 $16,851 At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,500

Answer 1

1)	Account titles and Explanation				Debit	Credit
31-Dec	Bad debts expense				23074
	allowance for uncollectible accounts					23,074
		Bad debts expense
	31-Dec	23074
	End bal	23074
		Allowance for dountful accounts
			op bal	12,500
			31-Dec	23074
			End bal	35,574