Below is the aging of receivables schedule for Evers Industries. Aging-of-Receivables Schedule
November 30
Not Past 1-30 Days 31-60 Days 61-90 Days Over 90 Days
Customer Balance Due Past Due Past Due Past Due Past Due
Subtotals 739,100 436,100 162,600 66,500 37,000 36,900
Boyd Industries 19,500 19,500
Hodges Company 20,000 20,000
Kent Creek Inc. 7,000 7,000
Lockwood Company 9,800 9,800
Van Epps Company 32,000 32,000
Totals 827,400 468,100 172,400 73,500 57,000 56,400
Percentage
uncollectible 1% 5% 20% 30% 45%
Allowance for
Doubtful Accounts 70,481 4,681 8,620 14,700 17,100 25,380
Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $ 14,800 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31.