Assignment 8 Saved Help Save & Exit Submit Check my work 1 On December 31, 2020, Toro Company's Allowance for Doubtful Accounts had an unadjusted credit balance of $43,000. The accountant for Toro has prepared a schedule of the December 31, 2020, accounts receivable by age and, on the basis of past experience, has estimated the percentage of the receivables in each age category that will become uncollectible. This information is summarized as follows: 100 points Skipped December 31, 2020 Accounts Receivable $2,100,000 995,000 212,000 135,000 35,000 Expected Percentage Uncollectible 1.25% 2.00 6.50 33.00 68.00 Age of Accounts Receivable Not due (under 30 days) 1 to 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due eBook Print Required: 1. Calculate the amount that should appear in the December 31, 2020, balance sheet as the allowance for doubtful accounts. References Allowance for Doubtful Accounts 2. Prepare the journal entry to record bad debt expense for 2020. View transaction list Journal entry worksheet