SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entry for bad debts at Dec
ID: 2709595 • Letter: S
Question
SHOW LIST OF ACCOUNTS LINK TO TEXT Post the adjusting entry for bad debts at December 31, 2013. Problem B-3A Presented below is an aging schedule for Bosworth Company. Journalize the adjusting entry for bad debts at December 31, 2013. (Credit account when amount is entered. Do not indent manually.) titles are automatically indented Journalize the 2014 transactions: (Credit account titles are automatically indented when amount s entered. Do not indent manually.) 1. March 1, a $700 customer balance originating in 2013 is judged uncollectible. 2. May 1, a check for $700 is received from the customer whose account was written off as uncollectible on March 1. Post to the allowance previous part.) account these 2014 events. (Post entries in the order of journal entries posted in the Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $3,100 and the aging schedule indicates that total estimated bad debts will be S46,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Explanation / Answer
A/c.Titles and explanations Debit Credit 31-12-2013 Bad debts Expense 37067 Allowance for Doubtful Accounts 37067 (Recording of estimated uncollectible a/cs.receivables) Ledger A/c Bad Debts Expense 31-12-2013 Allowance for Doubtful Accounts 37067 Balance c/d 37067 37067 37067 Allowance for Doubtful Accounts 31-12-2013 Balance b/d 6000 Bad Debts Expense 37067 Balance c/d 43067 43067 43067 Mar,1,2014 Allowance for Doubtful Accounts 700 Accounts Receivables 700 (Reversal of allowance for uncollectble a/cs.receivables) May 1,2014 Accounts Receivales 700 Allowance for Doubtful Accounts 700 (To reinstate the a/c. previously written off) Allowance for Doubtful Account Dec.31,2013 Balance b/d 43067 Reversal of a/c 700 Reinstatement of reversed a/c 700 Balance c/d 43067 43767 43767 A/c.Titles and explanations Debit Credit 31-12-2014 Bad debts Expense 49100 Allowance for Doubtful Accounts 49100 (Recording of estimated uncollectible a/cs.receivables)
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