CALCULAT Problem 8-3A (Part Level Submission) Presented below is an aging schedu

Question

CALCULAT Problem 8-3A (Part Level Submission) Presented below is an aging schedule for Bryan Company. Number of Days Past Due Not Yet Due Over 90 1-30 31-60 61-90 Total $ 24,000 Customer 9,000 $15,000 0,000 $30,000 50,000 38,000 Bird Cope 5,000 5,000 $40,000 d DeSpears $38,000 2,000 35,000 13,000 120,000 $262,000 $107,000 $49,000 $28,000 $40,000 $38,000 3% 12% 24% 60% 42,400533 3,210 $3,430 $3,360 $9,600 $22,800 Total estimated bad debts At December 31, 2016, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,000. (a1) Your answer is correct Journalize the adjusting entry for bad debts at December 31, 2016. (Credit account titles are automatically indented manually Account Titles and Explanation Debit All Rights Reserved. A Division of John WileY &Sons; Ins 8 3 4 5 6

Explanation / Answer

T- Account

bad debt expense

31-Dec

allowance for doubtful debts

34400

31-Dec

balance

34400

allowance for doubtful debts

31-Dec

balance

8000

31-Dec

bad debt expense

34400

31-Dec

balance

42400

T- Account

bad debt expense

31-Dec

allowance for doubtful debts

34400

31-Dec

balance

34400

allowance for doubtful debts

31-Dec

balance

8000

31-Dec

bad debt expense

34400

31-Dec

balance

42400

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