A summary of Klugman Company's December 31, 2021, accounts receivable aging schedule is presented below...
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A summary of Klugman Company's December 31, 2021, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group Age Group 0-60 days 61-90 days 91-120 days Over 120 days Amount $57,600 20,500 2,700 1,100 0.5 1.0 10.0 50. The allowance for uncollectible accounts had a balance of $1,370 on January 1, 2021. During the year, bad debts of $720 were written off Required: Prepare all journal entries for 2021 with respect to bad debts and the allowance for uncollectible accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View transaction list Journal entry worksheet 2 > Record the entry to write-off specific accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journa en y requirea" in the first account field.) View transaction list Journal entry worksheet 1 N Record the entry to adjust allowance for uncollectible accounts at the year- end Note: Enter debits before credits General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal
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