Question

Jarden Company has credit sales of $3,600,000 for year 201. On December 31, 2017 the company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. cember 31, 2017 Age of Expected Percent Uncollectible Accounts Receivable Accounts Receivable 1.251 830,000 Not yet due 2.00 1 to 30 days past due 254,000 6.50 31 to 60 days past due 86,000 32.75 38,000 61 to 90 days past due 68.00 over 90 days past due 12,000 2. Prepare the adjusting entry to record bad debts expense at December 31, 2017 view general journal view transaction list Journal Entry worksheet Record the estimated bad debts. Debit credit General Journal at Dec 31