Enable text based alternatives for graph display and drawing entry

Try Another Version of This Question

At December 31, 2020, the Accounts Receivable balance of Becah's Bracelets is $230,600.

The Allowance for Bad Debts account has a $24,100 debit balance.

Becah's Bracelets prepares the following aging schedule for its accounts receivable:

Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T account for the Allowance for Bad Debts at December 31, 2020.

Aging of Accounts Receivable
Title0-30 days31-60 days61-90 daysOver 90 daysTotal Receivables
Accounts Receivable $74,900 $79,400 $35,600 $40,700 $230,600
Percent uncollectible 1 % 5 % 10 % 50 %
Estimated total uncollectible

Allowance for Bad Debts
Double lineDouble line

December 31
December 31