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Presented below is an aging schedule for Zillmann Company.

Presented below is an aging schedule for Zillmann Company.
Number of Days Past Due
Customer Total Not
Yet Due 1-30 31-60 61-90 begin_of_the_skype_highlighting              1-30 31-60 61-90      end_of_the_skype_highlighting Over 90
Arndt $24,420 $11,720 $12,700
Blair 43,460 $43,460
Chase 61,860 17,490 6,630 $37,740
Drea 34,210 $34,210
Others 139,800 98,130 19,070 15,260 7,340
$303,750 $159,080 $37,420 $27,960 $37,740 $41,550
Estimated percentage
uncollectible 2% 2% 15% 27% 62%
Total estimated
bad debts $44,075 $3,182 $748 $4,194 $10,190 $25,761
At December 31, 2010, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $13,860.





Journalize the adjusting entry for bad debts at December 31, 2010.
Date Description/Account Debit Credit
Dec. 31











Post the adjusting entry for bad debts at December 31, 2010. Journalize and post to the allowance account the following events and transactions in the year 2011. (If answer is zero, please enter 0. Do not leave any fields blank.)
1. On March 31, a $1,500 customer balance originating in 2010 is judged uncollectible.
2. On May 31, a check for $1,500 is received from the customer whose account was written off as uncollectible on March 31.
Date Description Debit Credit
3/31/11





5/31/11





5/31/11


Accounts receivable

Bad Debts Expense
Date Explanation Ref. Debit Credit Balance
2010
Dec. 31 Adjusting



Allowance for Doubtful Accounts
Date Explanation Ref. Debit Credit Balance
2010
Dec. 31 Balance

31 Adjusting




2011
Mar. 31



May 31









Journalize the adjusting entry for bad debts on December 31, 2011, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $810 and the aging schedule indicates that total estimated bad debts will be $29,100.
Date Description Debit Credit
12/31/11











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