The following summarizes the aging of accounts receivable for Johnston Supplies, Inc. as of July 31, 2019: Number of Days Unpaid Total Accounts Receivable Historical % Uncollectible ??Not yet due$126,500? 2?% ??1-30 days past due 89,200? 12?% ??31-60 days past due 53,600? 18?% ??Over 60 days past due 31,800? 35?% ??Required:a. The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $28,947 on July 31, 2019. Prepare the required adjusting entry to record Bad Debt Expense for the year. NoDateGeneral JournalDebitCredit??????????b. Johnston Supplies, Inc. writes off $3,081 of uncollectible accounts on August 15, 2019. Prepare the required
adjusting entry to record the write-off.
NoDateGeneral JournalDebitCredit??????????c. Use a T-account to determine the account balance in the Allowance for Doubtful Accounts on August 15, 2019. Allowance for Doubtful Accounts????????????????
What will be an ideal response?
a.
| No | Date | General Journal | Debit | Credit |
| 1 | July 31, 2019 | Bad Debt Expense | 5,065? | ? |
| ? | Allowance for Doubtful Accounts | ? | 5,065? |
| No | Date | General Journal | Debit | Credit |
| 1 | August 15, 2019 | Allowance for Doubtful Accounts | 3,081? | ? |
| ? | Accounts Receivable | ? | 3,081? |
c.
| Allowance for Doubtful Accounts |
| ? | ? | 28,947? | Unadjusted Balance at 7/31/19 |
| ? | ? | 5,065? | Adjustment at 7/31/19 |
| Write-off on 8/15/19 | 3,081? | ? | |
| ? | ? | 30,931? | Unadjusted Balance at 8/15/19 |
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