Question 3 opening A/R closing A/R net sales $ $ $ 75,000 65,000 300,000 $ $ $ 5,000 4,000 100,000 $ 68,000 $ 45,000 $1,000,000 ART DSO Question 4 Before the year end adjustments, Company L's allowance for doubtful accounts balance of $5,000 DR The year-end balance for the allowance for the allowance for doubtful accounts will be based on the aging schedule shown. Complete the table for the estimated amount of bad debt of each aging category Aging Category Bad Debt % Balance Estimated Amount of Bad Debt Less than 20 days 3.00% $100,000 20 - 30 days 10.00% $750,000 31 - 60 days 15.00% $50,000 61-90 days 22.00% $25,000 90-120 days 35.00% $10,000 120 + days 1 50.00% $50,000 a) Prepare the journal entry to record bad debt expense at year-end (December 31, 2015), using the balance sheet method. b) Prepare the journal entry to record the write-off of Customer A's account on March 31, 2016 of $ 8,750 c) Customer A returns and pays the account in full. Prepare the journal transactions to reverse the write-off and record the payment. Date Description DR CR