Step-by-step explanation:
Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due $285,000; estimated uncollectible 5 % . 2. Accounts 1-45 days past due $39,600; estimated uncollectible 10 % 3. Accounts more than 45 days past due $15,800; estimated uncollectible 15 % Before recording any adjustments, Dhaliwal has a debit balance of $71,100 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts. 2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? Required 1 Required 2 Estimate the appropriate 12/31/2021 balance for Dhaliwal's allowance for uncollectible accounts. Balance in allowance for uncollectible accounts Required 2
Dhallwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due $285,000; estimated uncollectible 5 %. 2. Accounts 1-45 days past due $39,600; estimated uncollectible 10 %. 3. Accounts more than 45 days past due $15,800; estimated uncollectible 15 % Before recording any adjustments, Dhaliwal has a debit balance of $71,100 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Dhalwal's allowance for uncollectible accounts. 2. What journal entry should Dhallwal record to adjust its allowance for uncollectible accounts? Required 1| Required 2 What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts? (If no entry is required for a transaction/event, select "No jounal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment to allowance for uncollectible accounts. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal