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Required information [The following information applies to the questions displayed below.) Part 2 of 2 Daley Company prepared the following aging of receivables analysis at December 31. 0.66 points Days Past Due Total 0 Accounts $670,000 $416,000 receivable Percent 38 uncollectible 1 to 30 $110,000 31 to 60 61 to 90 Over 90 $56,000 $38,000 $50,000 eBook 48 78 98 128 Print References 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 $14,000 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 $3,000 debit. Complete this question by entering your answers in the tabs below. Req A Req B and C 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. Estimated balance of allowance for uncollectibles Req A Req Band > Days Past Due Part 2 of 2 Total 0 1 to 30 31 to 60 61 to 90 Over 90 Accounts receivable $670,000 $416,000 $110,000 $56,000 $38,000 $50,000 Percent 38 48 78 98 128 uncollectible 0.66 points eBook 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 $14,000 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 $3,000 debit. Print References Complete this question by entering your answers in the tabs below. Req A Reg B and 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 $14,000 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 $3,000 debit. Show less View transaction list View journal entry worksheet Debit Credit No 1 Date Dec 31 General Journal Bad debts expense Allowance for doubtful accounts 2 Dec 31 Bad debts expense Allowance for doubtful accounts