Note: Narratives are not required for journal entries. Question 1 (10 Marks). ABC Company's accountant had prepared the following schedule for its accounts receivable for its 2019 year-end: Amount Proportion expected to Default 1% 3% Accounts Receivable Category Not yet due 1-30 days past due 31-60 days past due 61-90 days past due Over 90days past due $111.000 45,000 19,500 4,500 7,500 10% 20% 50% Before adjusting entries are entered, the pre-adjusted balance in the Allowance for Doubtful Accounts at December 31 (year-end date) showed a debit balance of $2,700. Required: Based on the above information, the post adjustment balance in ABC's Allowance for Doubtful Accounts at December 31, 2019 should be (4 marks): a. b. Determine the bad debts expense for ABC for 2019 (2 marks): c. Assume that in January 2020, accounts receivable of $3,456 were written off as uncollectible and an accounts receivable of $468 that was previously written off in December 2019, was collected. Give the necessary journal entries (4 marks). a. Based on the above information, the post adjustment balance in ABC's Allowance for Doubtful Accounts at December 31, 2019 should be (4 marks): b. Determine the bad debts expense for ABC for 2019 (2 marks): C. Assume that in January 2020, accounts receivable of $3,456 were written off as uncollectible and an accounts receivable of $468 that was previously written off in December 2019, was collected. Give the necessary journal entries (4 marks). Debit Credit To write -off uncollectible accounts receivable To collect accounts receivable previously written off 1