The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July...
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The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2016 Total Accounts Receivable $127,400 $90,100 $54,500 Historical % Uncollectible 3% 13% 19% Number of Days Unpaid Not yet due 1-30 days past due 31-60 days past due Over 60 days past due Required a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $29,217 on July 31, 2016. Prepare the required adjusting entry to record Bad Debt Expense for the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry to record bad debt expense for the year July 31, 2016 Note: Enter debits before credits. Date General Journal Debit Credit July 31, 2016 Bad Debt Expense Allowance for Doubtful Accounts
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