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Prepare year end adjusting entry to recognize bad debt

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Reference no: EM132557606

Juglu company has the follwoing account balance at the dec 31,2017:

A/R: 114,200

Allowance for doubtfukl accounts: 2,600(Credit Balance

Account age          Age Group       Balance Esitrmated uncollectable Percentage

1-30 days past due    94000                          5

31-90 days past due  16000                          15

over 90 days past due   42000                      30

Required

Question 1: Prepare year end adjusting entry to recognize bad debt for Dec 31,2017

Question 2: Show how A/R and Allowance for doubtful accounts would appear on Dec 31,2017 balance sheet

Question 3: On Jan 15,2018 management decided that 655 account of Frank was uncollectable and wrote off as bad debt. Prepare journal entry

Reference no: EM132557606

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