A summary of London Fashion's December 31,2016,accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group:

The allowance for uncollectible accounts had a balance of $1,600 at January 1,2016.During the year bad debts of $1,150 were written off.
Required:
Prepare all 2016 journal entries with respect to bad debts and the allowance for uncollectible accounts.

Question

A summary of London Fashion's December 31,2016,accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group:
  
The allowance for uncollectible accounts had a balance of $1,600 at January 1,2016.During the year bad debts of $1,150 were written off.
Required:
Prepare all 2016 journal entries with respect to bad debts and the allowance for uncollectible accounts.

Quizplus · Accepted Answer

The Answer of A summary of London Fashion's December 31,2016,accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group:
  
The allowance for uncollectible accounts had a balance of $1,600 at January 1,2016.During the year bad debts of $1,150 were written off.
Required:
Prepare all 2016 journal entries with respect to bad debts and the allowance for uncollectible accounts.

A Summary of London Fashion's December 31,2016,accounts Receivable Aging Schedule