AFB$4$ DA $4$ Allowance Method$-$Aging of A$/$RName:Date:Score: At December $31,2020,$ the Accounts Receivable balance of Fusion Electronics is $$300,000.$ The Allowance for Doubtful Accounts has an $$8,900$ credit balance. Accountants for Fusion Electronics prepared the following aging schedule for its accounts receivable:Age of Accounts Receivable $1-30$ Days$31-60$ Days$61-90$ DaysOver $90$ DaysTotalAccounts Receivable$$140,000$$$80,000$$$70,000$$$10,000$$$300,000$Estimated percent uncollectible$0\mathrm{.}5\%2\mathrm{.}0\%6\mathrm{.}0\%50\mathrm{.}0\%1.$ Prepare the adjusting entry for bad debt expense and doubtful accounts based on the aging schedule on December $31,2020\mathrm{.}2.$ Show how Fusion Electronics will report Accounts Receivable on its December $31,2020,$ balance sheet $($supply the amounts in the partial Balance Sheet below$)\mathrm{.}3.$ Suppose all the facts of this situation are the same except that the Allowance for Doubtful Accounts has a $$900$ debit balance before adjustment. Prepare the adjusting entry for bad debt expense and doubtful accounts based on this information. $1.$DateDescriptionDebitCreditDec$-31$Dr$.$ Cr$.2.$ Accounts Receivable$ Less: Allowance for doubtful accounts Accounts Receivable, Net $3.$DateDescriptionDebitCreditDec$-31$Dr$.$ Cr$.$