Journalize and post to the amounts account the following events and transactions in the year 2012. (1) on March 31 a $1000 customer balance originating in 2011 is judged uncollectible. (2) on May 31 a check for $1000 is received from the customer whose account was written off as uncollectible on March 31.
Journalize the adjusting entry for bad debts on December 31, 2012 assuming that the unadjusted balance in allowance for doubtful accounts is is a debit of $800 and the aging schedule indicates the total estimated bad debts will be $28,600