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consider the following perpetual system merchandising transactions of Helton company

e P Mon Nov 19 Winfrey Designs had an unadjusted credit balance in its Adowance for Doubitful Accounts at December 31, 2017, of $1,900 Required a. Prepare the adjusting entry assuming that Winfrey estimates uncollectible accounts based on an aging analysis as follows. (If no entry required for a transaction/event, select "No journal entry required" in the first account field) December 31, 20117 $127.000 Not due (under 30 days) 37,000 8,500 2.100 o 30 days past due 31 to 60 days past due Over 60 days past due 1% 4% 10% 60% Journal entry worksheet Record the estimate for uncollectible accounts Note: Enter debits before credits 2017 b. During 2018, credit sales were $1,252,000; sales discounts taken were $23,000; accounts receivable collected were $1.040,600 accounts written off during the year totalled $25,000. Prepare the adjusting entry required on December 31, 2018, to estimate unco receivables assuming it is based on the following aging analysis. (If no entry is required for a transaction/event, select "No jou required" in the first account field.) Expected December 31, 2018 $250,000 78,000 21,000 2,000 Not due (under 30 days) 110 30 days past due 3110 60 days past due Over 60 days past due 1% 4% 10% 60%

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