Assume that the allowance for doubtful accounts for Vandalay Industries has a credit balance of $6,150 before adjustment on November 30. Journalize the adjusting entry for uncollectible accounts as of November 30.
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Not |
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Days Past Due |
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Past |
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Over |
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Customer |
Balance |
Due |
1–30 |
31–60 |
61–90 |
90 |
|
|
1 |
Aaron Brothers Inc. |
2,000 |
2,000 |
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|
|
|
1 |
|
2 |
Abell Company |
1,500 |
|
1,500 |
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2 |
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|
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|
|
21 |
Zollo Company |
5,000 |
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|
5,000 |
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|
21 |
|
22 |
Subtotals |
772,500 |
440,000 |
180,000 |
78,500 |
42,300 |
31,700 |
22 |
The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above:
|
Customer |
Balance |
Due Date |
|
Tamika Industries |
$25,000 |
August 24 |
|
Ruppert Company |
8,500 |
September 3 |
|
Welborne Inc. |
35,000 |
October 17 |
|
Kristi Company |
6,500 |
November 5 |
|
Simrill Company |
12,000 |
December 3 |