Adjusting entry to record Bad Debts Expense using estimate and Allowance for doubtful accounts. I already figured out the estimated balance of allowance for collectibles: $29,750 Credit

Inside the chart, I typed in 0 as a place keeper. That's where the answers are supposed to be written.

Required information [The following information applies to the questions displayed below. Daley Company prepared the following aging of receivables analysis at December 31. Days Past Due Total $595,000 Accounts receivable Percent uncollectible 0 $401,000 3% 1 to 30 $95,000 4% 31 to 60 61 to 90 $41,000 $23,000 7% 9% Over 90 $35,000 12% a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,500 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,500 debit. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,500 credit. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,500 debit. Show less No Credit Date Dec 31 General Journal Bad debts expense Allowance for doubtful accounts Debit 0 X Dec 31 Bad debts expense Allowance for doubtful accounts 0 x