Problem 5-84A (Algorithmic) Aging Method Bad Debt Expense Cindy Bagnal, the manager or Cayce Printing Service, has provided you with the following aging schedule for Cayce's accounts receivable: Accounts Recelvable Category Proportion Expected to Default Amount 0-20 days 0.02 21-40 days 0.08 41-60 days 595,000 21,500 11,700 5,300 $133,500 0.15 Over 60 days 0.30 Cindy indicates that the $133,500 of accounts receivable identified in the table does not include $8,900 of receivables that should be written off. Required: 1. Joumalize the $8,900 write-off. Record write-off of defaulted account $133,500 Cindy indicates that the $133,500 of accounts receivable Identified in the table does not include $8,900 of receivables that should be written off Required: 1. Journalize the $8,900 write-olt. Record write-off of defaulted account 2. Determine the desired postadjustment balance in allowance for doubtrul accounts, Round each aging category to the nearest dollar 3. Ir the balance in allowance for doubtful accounts before the $8,900 write-off was a debit of $450, compute bad debt expense. Prepore the adjusting entr to record bad debt expense Record adjusting entry for bad debt expense estimate