Homework Answers
Adjusting entry
| Date | account and explanation | Debit | Credit |
| Dec 31 | Bad debt expense (43854-8600) | 35254 | |
| Allowance for doubtful accounts | 35254 | ||
| (To record bad debt expense) |
Add Answer to:
Customer Not Yet Due Total $ 23,900 Number of Days Past Due 1-30 31-60 61-90 Over...
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Number of...
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Number of Days Past Due Not Yet Over Customer Total Due 1-30 31-60 61-90 90 Aneesh $23,900 $8,100 $15,800 Bird 28,200 $28,200 Cope $39,900 49,500 4,500 5,100 DeSpears 37,300 $37,300 Others 127,700 76,000 38,100 13,600 $266,600 $108,700 $51,300 $29,400 $39,900 $37,300 Estimated percentage 3 % 12 % 63 % 7% 25% uncollectible Total estimated bad debts $43,854 $3261 $3,591 $3,528 $9,975 $23,499 At December 31, 2021,...
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Presented below...
Presented below is an aging schedule for Sweet Acacia Industries
at December 31, 2021.
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Number of Days Past Due Not Yet Due Customer Total 1 -30 Over 90 31-60 61-90 Aneesh $ 23,900 $ 8,100 $15,800 Bird 28,200 $ 28,200 Cope 49,500 4,500 5,100 $39,900 DeSpears Others 37,300 $37,300 127,700 76,000 38,100 13,600 $266,600 $108,700 $51,300 $29,400 $39,900 $37,300 Estimated percentage uncollectible 3% 7% 12% 25%...
Number of Days Past Due Over Not Yet Due Total 1-30 31-60 Customer 61-90 Aneesh $...
Number of Days Past Due Over Not Yet Due Total 1-30 31-60 Customer 61-90 Aneesh $ 24,500 $9,100 $15,400 Bird 28,700 $ 28,700 Cope 48,900 5,000 4,600 $39,300 DeSpears 40,000 $40,000 Others 123,600 75,800 33,500 14,300 $ 109,500 $47,200 $29,700 $39,300 $265,700 $40,000 Estimated percentage uncollectible 3% 7% 11% 24% 57% Total estimated bad debts 42,088 $3,285 $3,304 $3,267 $9.432 $22,800 At December 31, 2016, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,600.
Not Yet Number of Days Past Due Customer Total Due 1-30 31-60 61-90 Over 90 24,000...
Not Yet Number of Days Past Due Customer Total Due 1-30 31-60 61-90 Over 90 24,000 30,000 $ 30,000 50,000 5,000 5,000 38,000 120,000 72,000 35,000 13,000 9,000 $15,000 Aneesh Bird Cope DeSpears Others $40,000 $38,000 $262,000 $107,000 $49,000 $28.000 $40,000 $38,000 Estimated percentage uncollectible 396 | 796 | 12% | 24% | 60% Total estimated bod e 42.4005 3210 3430 5 3360 5 9.600 42,400 3,210 3,430 3,360 9,600 $22,800 At December 31, 2016, the unadjusted balance in Allowance...
Problem 8-3A Presented below is an aging schedule for Sage Hill Inc.. Customer Total Not Yet Due Nu...
Problem 8-3A
Presented below is an aging schedule for Sage Hill Inc..
Customer
Total
Not Yet
Due
Number of Days Past Due
1–30
31–60
61–90
Over 90
Aneesh
$ 25,300
$ 9,900
$15,400
Bird
30,300
$ 30,300
Cope
48,600
4,600
4,800
$39,200
DeSpears
40,300
$40,300
Others
125,800
75,000
36,600
14,200
$270,300
$109,900
$51,300
$29,600
$39,200
$40,300
Estimated percentage uncollectible
3%
7%
13%
22%
64%
Total estimated bad debts
$ 45,152
$ 3,297
$3,591
$3,848
$ 8,624
$25,792
At December...
Presented below is an aging schedule for Bridgeport Corp. at December 31, 2021. Number of Days Past Due Not Yet...
Presented below is an aging schedule for Bridgeport Corp. at December 31, 2021. Number of Days Past Due Not Yet Due Total Customer 1-30 31-60 Over 90 61-90 Aneesh $ 23,700 $ 8,100 $15,600 Bird Cope De Spears 32,600 $ 32,600 48,900 4,700 4,600 $39,600 37,200 $37,200 120,900 75,400 33,100 $263,300 $112,700 $45,800 $28,000 $39,600 $37,200 Others Estimated percentage uncollectible 3% 7% 13% 26% 62% Total estimated bad debts $43,587 $ 3,381 $3,206 $3,640 $ 10,296 $23,064 At December 31,...
Presented below is an aging schedule for Ivanhoe Company at December 31, 2021. Customer Aneesh Bird Number of Days Past...
Presented below is an aging schedule for Ivanhoe Company at December 31, 2021. Customer Aneesh Bird Number of Days Past Due Not Yet Over Total Due 1-30 31-60 61-90 90 $23.700 $8,700 $15,000 27.900 $ 27,900 53,500 4,900 4,900 $43.700 38.500 $38.500 126,300 77,500 36,600 12,200 $249,900 $110,300 $50,200 $27.200 $43,700 $38.500 Cope De Spears Others Estimated percentage un collectible 3% 8% 12% 24% 61% Total estimated bad debts $44562 $3,309 $4,016 $3.264 $10.488 $23,485 At December 31, 2021, the...
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Number of Days Past Due Not Yet Over Customer Total Due 1-30 31-60 61-90 90 Aneesh $23,900 $8,100 $15,800 Bird 28,200 $28,200 Cope $39,900 49,500 4,500 5,100 DeSpears 37,300 $37,300 Others 127,700 76,000 38,100 13,600 $266,600 $108,700 $51,300 $29,400 $39,900 $37,300 Estimated percentage 3 % 12 % 63 % 7% 25% uncollectible Total estimated bad debts $43,854 $3261 $3,591 $3,528 $9,975 $23,499 At December 31, 2021,...
Presented below is an aging schedule for Sweet Acacia Industries
at December 31, 2021.
Presented below is an aging schedule for Sweet Acacia Industries at December 31, 2021. Number of Days Past Due Not Yet Due Customer Total 1 -30 Over 90 31-60 61-90 Aneesh $ 23,900 $ 8,100 $15,800 Bird 28,200 $ 28,200 Cope 49,500 4,500 5,100 $39,900 DeSpears Others 37,300 $37,300 127,700 76,000 38,100 13,600 $266,600 $108,700 $51,300 $29,400 $39,900 $37,300 Estimated percentage uncollectible 3% 7% 12% 25%...
Number of Days Past Due Over Not Yet Due Total 1-30 31-60 Customer 61-90 Aneesh $ 24,500 $9,100 $15,400 Bird 28,700 $ 28,700 Cope 48,900 5,000 4,600 $39,300 DeSpears 40,000 $40,000 Others 123,600 75,800 33,500 14,300 $ 109,500 $47,200 $29,700 $39,300 $265,700 $40,000 Estimated percentage uncollectible 3% 7% 11% 24% 57% Total estimated bad debts 42,088 $3,285 $3,304 $3,267 $9.432 $22,800 At December 31, 2016, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,600.
Not Yet Number of Days Past Due Customer Total Due 1-30 31-60 61-90 Over 90 24,000 30,000 $ 30,000 50,000 5,000 5,000 38,000 120,000 72,000 35,000 13,000 9,000 $15,000 Aneesh Bird Cope DeSpears Others $40,000 $38,000 $262,000 $107,000 $49,000 $28.000 $40,000 $38,000 Estimated percentage uncollectible 396 | 796 | 12% | 24% | 60% Total estimated bod e 42.4005 3210 3430 5 3360 5 9.600 42,400 3,210 3,430 3,360 9,600 $22,800 At December 31, 2016, the unadjusted balance in Allowance...
Problem 8-3A
Presented below is an aging schedule for Sage Hill Inc..
Customer
Total
Not Yet
Due
Number of Days Past Due
1–30
31–60
61–90
Over 90
Aneesh
$ 25,300
$ 9,900
$15,400
Bird
30,300
$ 30,300
Cope
48,600
4,600
4,800
$39,200
DeSpears
40,300
$40,300
Others
125,800
75,000
36,600
14,200
$270,300
$109,900
$51,300
$29,600
$39,200
$40,300
Estimated percentage uncollectible
3%
7%
13%
22%
64%
Total estimated bad debts
$ 45,152
$ 3,297
$3,591
$3,848
$ 8,624
$25,792
At December...
Presented below is an aging schedule for Bridgeport Corp. at December 31, 2021. Number of Days Past Due Not Yet Due Total Customer 1-30 31-60 Over 90 61-90 Aneesh $ 23,700 $ 8,100 $15,600 Bird Cope De Spears 32,600 $ 32,600 48,900 4,700 4,600 $39,600 37,200 $37,200 120,900 75,400 33,100 $263,300 $112,700 $45,800 $28,000 $39,600 $37,200 Others Estimated percentage uncollectible 3% 7% 13% 26% 62% Total estimated bad debts $43,587 $ 3,381 $3,206 $3,640 $ 10,296 $23,064 At December 31,...
Presented below is an aging schedule for Ivanhoe Company at December 31, 2021. Customer Aneesh Bird Number of Days Past Due Not Yet Over Total Due 1-30 31-60 61-90 90 $23.700 $8,700 $15,000 27.900 $ 27,900 53,500 4,900 4,900 $43.700 38.500 $38.500 126,300 77,500 36,600 12,200 $249,900 $110,300 $50,200 $27.200 $43,700 $38.500 Cope De Spears Others Estimated percentage un collectible 3% 8% 12% 24% 61% Total estimated bad debts $44562 $3,309 $4,016 $3.264 $10.488 $23,485 At December 31, 2021, the...
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