(L.OBJ. 3) Applying the allowance method (aging of accounts) to account for uncollectibl...

(L.OBJ. 3) Applying the allowance method (aging of accounts) to account for uncollectible [10 min]

Spring Garden Flowers had the following balances at December 31, 2011, before the year-end adjustments:

The aging of accounts receivable yields the following data:

Requirements

1. Journalize Spring’s entry to adjust the allowance account to its correct balance at December 31, 2011.

2. Prepare a T-account to compute the ending balance of Allowance for uncollectible accounts.