Erickson Company had a $300 credit balance in Allowance forDoubtful Accounts at December 31, 2017, before the current year'sprovision for uncollectible accounts. An aging of the accountsreceivable revealed the following:
EstimatedPercentage
Uncollectible
CurrentAccounts $170,000 1%
1â30 dayspastdue 15,000 3%
31â60 dayspastdue 12,000 6%
61â90 dayspastdue 5,000 15%
Over 90days pastdue 9,000 30%
TotalAccountsReceivable $211,000
Instructions
(a) Prepare the adjusting entry on December 31,2017, to recognize bad debts expense.
(b) Assume the same facts as above except that theAllowance for Doubtful Accounts account had a $300 debit balancebefore the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision foruncollectible accounts.

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