Presented below is an aging schedule for Concord Company at December 31, 2021. At december 31,2021 the unadjusted balance in allowance for doubtful accounts is a credit of $13000. Journalize and post the adjusting entry for uncollectibles at dec 31 2021
Presented below is an aging schedule for Concord Company at December 31, 2021.
Number of Days Past Due
Not Yet Due
Over 90
Customer
Total
1-30
31-60
61-90
Anders
$24,900
$11,200
$13,700
Blake
38,600
$38,600
Coulson
58,500
16,800
5,800
$35,900
Deleon
33,300
$33,300
Others
131,200
97,100
15,200
13,300
5,600
$286,500
$152,500
$32,200
$27,000
$35,900
$38,900
Estimated Percentage Uncollectible
3%
5%
12%
27% SUPPORT $9,693
Total Estimated Bad Debts
$35,845
$4,575
$1,610
$ 3,240