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Dhaliwal Digital categorizes its accounts receivable into three age groups for purposes of estimating its allowance for uncollectible accounts.
Accounts not yet due = $180,000; estimated uncollectible = 15%.
Accounts 1-45 days past due = $25,000; estimated uncollectible = 20%.
Accounts more than 45 days past due = $10,000; estimated uncollectible = 25%.
Before recording any adjustments, Dhaliwal has a debit balance of $45,100 in its allowance for uncollectible accounts.
1. Estimate the appropriate 12/31/2024 balance for Dhaliwal's allowance for uncollectible accounts.
2. What journal entry should Dhaliwal record to adjust its allowance for uncollectible accounts?
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