Answer Happy

b. During 2021, credit sales were $1.273,000: sales discounts taken were $24,000; accounts receivable collected were $1,084,30 and accounts written off during the year totalled $25,000. Prepare the adjusting entry required on December 31, 2021, to estimati uncollectible receivables assuming it is based on the following aging analysis. December 31, 2021 Accounts Receivable $250,000 77,008 22,000 16,000 View transaction list Journal entry worksheet Record the estimate for uncollectible accounts. Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due 31 to 68 days past due Over 60 days past due Note: Enter debits before credits. Date Docombor 31, 2021 Assets Current assets: General Journal Bad debt exponse Allowance for doubtful accounts Partial Balance sheet Expected Percentage Uncollectible 1% c. Show how accounts receivable would appear on the December 31, 2021, balance sheet. Accounts receivable Less: Allowance for doubtful accounts Debit 10% Credit