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A summary of jarvis companys december 31 2013 accounts

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Reference no: EM13592822

A summary of Jarvis Company's December 31, 2013, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group:

  • Age Group                    Amount     %
  • 0-60                            60,000     .5
  • 61-90                          22,000      1.0
  • 91-120                        3,000        10.0
  • over 120                      1,000        50.0

The allowance for uncollectible accounts had a balance of $1,400 on January 1, 2013. During the year, bad debts of $750 were written off.

Required:Prepare all journal entries for 2013 with respect to bad debts and the allowance for uncollectible accounts.

Reference no: EM13592822

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