The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July...
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Accounting
The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2019 Total Accounts Historical Uncollectible Number of Days Unpaicd Receivable Not yet due 1-30 days past due 31-60 days past due Over 60 days past due $128,400 91,100 55,500 33,700 5% 10% 16% 33% Required: a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $29,517 on July 31, 2019. Prepare the required adjusting entry to record Bad Debt Expense for the year. b. Johnston Supplies, Inc. writes off $3,271 of uncollectible accounts on August 15, 2019. Prepare the required adjusting entry to record the write-off c. Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15, 2019
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