Journalize the 2014 transactions: (Credit account titles are automatically inden

Question

Journalize the 2014 transactions: (Credit account titles are automatically indented when amount is entered. March 1, a $610 customer balance originating in 2013 is judged uncollectible. May 1, a check for $610 is received from the customer whose account was written off as uncollectible on March 1. Post to the allowance account these 2014 events. (Post entries in the order of journal entries posted in the previous Journalize the adjusting entry for bad debts at December 31, 2014, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of $1,800 and the aging schedule indicates that total estimated bad debts will be $37,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Explanation / Answer

All Amounts in $ Journal Entries in 2014 Date Particulars Debit Credit 01-Mar Bad Debts Written Off A/c 610 To Allowance for Bad Debts A/c 610 01-May Bank A/c 610 To Bad Debts Written Off A/c 610 Posting to Allowance for Bad Debts A/c Allowance for Bad Debts A/c 31-Dec To Balance c/fd 48425 01-Jan By Balance b/fd 47815 01-Mar By Bad Debts w/off 610 Journal Entries for 2014 Bad Debts A/c 37000 To Allowance for Bad Debts A/c 37000

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