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View Policies Current Attempt in Progress The following information was taken from the accounts receivable records of Sheffield Corporation as at December 31, 2020: Outstanding Balance $153.400 Percentage Estimated to be Uncollectible 0.5% 64.200 2.5% 0 - 30 days outstanding 31 - 60 days outstanding 61 - 90 days outstanding 91 - 120 days outstanding Over 120 days outstanding 41.500 4.0% 20.200 6.5% 5,700 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1.100 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $1,100 prior to the adjustment (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of 54.140 prior to the adjustment. (Round answers to decimal places, s. 8.971. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Debit Credit Account Titles and Explanation Bad Debit Expense Allowance for Doubtful Accounts