The ledger of Muscat Company on January 31, 2017, includes the following selected accounts before adjusting entries.                                                                                                                                                                                                    Account Debit Credit Prepaid Insurance OMR 2400   Supplies 1,500   Equipment 30,000   Accumulated Depreciation—Equipment   5000 Unearned Service Revenue   6000 Salaries Expense 10,000     An analysis of the accounts shows the following:   Insurance expires at the rate of OMR 200 per month. Supplies on hand total OMR 500. The equipment depreciates OMR 150 per month. Half (1/2) of the unearned revenue was earned in January.   Instructions: Prepare the adjusting entries for the month of January

The company estimates future uncollectible accounts. The company determines $16,000 of accounts receivable on January 31 are past due, and 30% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 4% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)

The Phillips Company gathered the following information pertaining to its year ended December 31, 2020 prior to any adjustments:  Net Sales for the Year                                          $780,000 Accounts Receivable, 12/31                                   165,000    Allowance for Uncollectible Accounts, 12/31          2,200 Debit Assume that Phillips uses the percentage of outstanding accounts receivable method for uncollectible amounts.  An aging of accounts receivable indicates that $9,550 will be uncollectible.  Phillips will report the following amounts in its 2020 financial statements: Select one: a. Bad debts expense $11,750; Net accounts receivable $155,450 b. Bad debts expense $9,550; Net accounts receivable $155,450 c. Bad debts expense $9,550; Net accounts receivable $157,650 d. Bad debts expense $1,750; Net accounts receivable $157,650 e. Bad debts expense $7,350; Net accounts receivable $157,650

At the end of the current year, using the aging of receivable method, management estimated that $24,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance of $465. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?