Question Details

(Solution Download) Problem 8-3A (Part Level Submission) Presented below is an aging schedule for Halleran Company. Numb


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Problem 8-3A (Part Level Submission)

 

Presented below is an aging schedule for Halleran Company.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of Days Past Due

 

 

Customer

 

 

Total

 

 

Not

 

Yet Due

 

 

1Ac??o30

 

 

31Ac??o60

 

 

61Ac??o90

 

 

Over 90

 

Anders$ 24,200$11,900$12,300
Blake41,100$ 41,100
Coulson57,80016,0006,900$34,900
Deleon33,100$33,100
Others131,70095,20016,50013,9006,100
$287,900$152,300$35,300$26,200$34,900$39,200
Estimated Percentage Uncollectible2%6%14%27%43%
Total Estimated Bad Debts$ 35,111$ 3,046$ 2,118$ 3,668$ 9,423$16,856

 


 


 

At December 31, 2015, the unadjusted balance in Allowance for

 

Doubtful Accounts is a credit of $12,190.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(a)

 

Journalize and post the adjusting entry for bad debts at December

 

31, 2015. (Credit account titles are automatically

 

indented when amount is entered. Do not indent

 

manually.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date

 

 

Account Titles and Explanation

 

 

Debit

 

 

Credit

 

 

Dec. 31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bad Debts Expense

 

 

Date

 

 

Explanation

 

 

Ref

 

 

Debit

 

 

Credit

 

 

Balance

 

 

Dec. 31

 

 

Adjusting

 

 

 

 

 

 

 

 

Allowance for Doubtful Accounts

 

 

Date

 

 

Explanation

 

 

Ref

 

 

Debit

 

 

Credit

 

 

Balance

 

 

Dec. 31

 

 

Balance

 

 

 

 

 

 

 

 

Dec. 31

 

 

Adjusting

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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