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Presented below is an aging schedule for Zillmann Company.

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Presented below is an aging schedule for Zillmann Company.;Number of Days Past Due;Customer;Total;Not;Yet Due;1-30 begin_of_the_skype_highlighting 1-30 31-60 61-90 end_of_the_skype_highlighting;31-60;61-90 begin_of_the_skype_highlighting 1-30 31-60 61-90 end_of_the_skype_highlighting;Over 90;Arndt $24,420 $11,720 $12,700;Blair 43,460 $43,460;Chase 61,860 17,490 6,630 $37,740;Drea 34,210 $34,210;Others;139,800;98,130;19,070;15,260;7,340;$303,750;$159,080;$37,420;$27,960;$37,740;$41,550;Estimated percentage;uncollectible;2%;2%;15%;27%;62%;Total estimated;bad debts;$44,075;$3,182;$748;$4,194;$10,190;$25,761;At December 31, 2010, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,860.;Journalize the adjusting entry for bad debts at December 31, 2010.;Date Description/Account Debit Credit;Dec. 31;Post the adjusting entry for bad debts at December 31, 2010. Journalize and post to the allowance account the following events and transactions in the year 2011. (If answer is zero, please enter 0. Do not leave any fields blank.);1. On March 31, a $1,500 customer balance originating in 2010 is judged uncollectible.;2. On May 31, a check for $1,500 is received from the customer whose account was written off as uncollectible on March 31.;Date Description Debit Credit;3/31/11;5/31/11;5/31/11;Accounts receivable;Bad Debts Expense;Date;Explanation;Ref.;Debit;Credit;Balance;2010;Dec. 31 Adjusting;Allowance for Doubtful Accounts;Date;Explanation;Ref.;Debit;Credit;Balance;2010;Dec. 31 Balance;31 Adjusting;2011;Mar. 31;May 31;Journalize the adjusting entry for bad debts on December 31, 2011, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $810 and the aging schedule indicates that total estimated bad debts will be $29,100.;Date Description Debit Credit;12/31/11;Click here if you would like to Show Work for this question;Link to Text 1;Question Attempts: 0 of 3 used Save for late Submit Answer;Copyright ? 2000-2011 by John Wiley & Sons, Inc. or related companies. All rights reserved.;Attachment Preview;week 5 hw 1.docx;Presented below is an aging schedule for Zillmann Company.;Number of Days Past Due;Not;Custo;Yet;mer Total Due 1-30 31-60 61-90;Over 90;Arndt;$24,420;$11,720;$12,700;Blair;43,460;$43,460;Chase;61,860;17,490;6,630;$37,740;Drea;34,210;$34,210;139,800;98,130;19,070;15,260;7,340;Others;$303,750 $159,080;$37,420;$27,960;$37,740;$41,550;Estimated percentage;2%;2%;15%;27%;62%;uncollectible;Total estimated;$44,075;$3,182;$748;$4,194;$10,190;$25,761;bad debts;At December 31, 2010, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,860.;Journalize the adjusting entry for bad debts at December 31, 2010.;Date;Description/Account;Dec. 31;Post the adjusting entry for bad debts at December 31, 2010. Journalize and post to the allowance accoun;and transactions in the year 2011. (If answer is zero, please enter 0. Do not leave any fields blank.);1. On March 31, a $1,500 customer balance originating in 2010 is judged uncollectible.;2. On May 31, a check for $1,500 is received from the customer whose account was written off as un;31.;Date;Description;3/31/11;5/31/11;5/31/11;Accounts receivable;Bad Debts;Expense;Date;Explanation;2010;Dec. 31 Adjusting;Allowance for;Doubtful;Accounts;Date;Explanation;2010;Dec. 31 Balance;31 Adjusting;2011;Mar. 31;May 31;Ref.;Debit;Ref.;Debit;Journalize the adjusting entry for bad debts on December 31, 2011, assuming that the unadjusted balance;Doubtful Accounts is a debit of $810 and the aging schedule indicates that total estimated bad debts will b;Date;Description;12/31/11;Click here if you would like to Show Work for this question;Question;Attempts;0 of 3 used;Copyright 2000-2011 by John Wiley & Sons, Inc. or related companies. All rights reserved.

 

Paper#32373 | Written in 18-Jul-2015

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