Problem 8-3A (Part Level Submission) Number of Days Past Due Customer Total Not
ID: 341526 • Letter: P
Question
Problem 8-3A (Part Level Submission)
Number of Days Past Due
Customer
Total
Not
Yet Due
1–30
31–60
61–90
Over 90
(a)
Date
Account Titles
Debit
Credit
Bad Debts Expense
Date
Explanation
Ref.
Debit
Credit
Balance
Dec. 31
Adjusting
Allowance for Doubtful Accounts
Date
Explanation
Ref.
Debit
Credit
Balance
Dec. 31
Balance
Dec. 31
Adjusting
Problem 8-3A (Part Level Submission)
Presented below is an aging schedule for Halleran Company.Number of Days Past Due
Customer
Total
Not
Yet Due
1–30
31–60
61–90
Over 90
Anders $ 25,300 $11,400 $13,900 Blake 40,500 $ 40,500 Coulson 55,300 15,500 5,700 $34,100 Deleon 35,000 $35,000 Others 131,700 95,400 16,000 14,000 6,300 $287,800 $151,400 $33,100 $27,900 $34,100 $41,300 Estimated Percentage Uncollectible 1% 5% 13% 26% 45% Total Estimated Bad Debts $ 34,247 $ 1,514 $ 1,655 $ 3,627 $ 8,866 $18,585At December 31, 2017, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $11,600.
Explanation / Answer
a) Adjusting entry :
b) Post :
Date accounts & explanation debit credit Dec 31 Bad debt expense (34247-11600) 22647 Allowance for doubtful accounts 22647 (To record adjusting entry)