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P9-3A Journalize entries to record transactions related to bad debts Presented below is an aging schedule for Halleran Company. Not yet Due Number of Days Past Due 31-60 61-90 $12,000 1-30 $10,000 Over 90 $40,000 16.000 6,000 35,000 Customer Total Anders $22.000 Blake 40,000 Coulson 57,000 Deleon 34,000 Others 132,000 $285,000 Estimated Percentage Uncollectible Total Estimate $38,610 96.000 $152,000 16,000 $32,000 14.000 $26,000 34,000 6,000 $40,000 $35,000 3% $4,560 6% $1,920 13% $3,380 25% $8,750 50% $20,000 At December 31, 2017, the unadjusted balance in Allowance for Doutful Accounts is a credit of $12,000. Instructions: (a) Journalize and post the adjusting entry for bad debts at December 31, 2017 (b) Journalize and post the allowance account the following events and transactions in the year 2018. (1) On March 31, a $1,000 customer balance originating in 2017 is judged uncollectible. (2) On May 31, a check for $1,000 is received from the customer whose account was written off as uncollectible on March 31. (C) Journalize the adjusting entry for bad debts on December 31, 2018, assuming that the unadjusted balance in the Allowance for Doubtful Accounts is a debit of $800 and the aging schedule indicates that total estimated bad debts will be $31,600. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". Dec. 31 Account Value Account Value Bad Debt Expense Explanation Ref. Debit Credit Balance Date 2017 Dec. 31 Adjusting Value Value Allowance for Doubtful Accounts Explanation Ref. Debit Credit Balance 12,000 Date 2017 Dec 31 Dec. 31 2018 Mar. 31 31-May Balance Adjusting Value Value Value 2018 Mar. 31 Account (b) (1) Value Account Value (b) (2) May 31 Account Value Account Value May 31 Account Value Account Value 2018 Dec 31 Account Value Account Value

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