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Question 1 of5 / 2 E View Policies Current Attempt in Progress The following information was taken from the accounts receivable records of Pronghorn Corporation as at December 31, 2020: 0 30 days outstanding $151,600 0.5% 31 60 days outstanding 63,000 2.5% 61 90 days outstanding 40,400 4.0% 91 120 days outstanding 21,400 6.5% Over 120 days outstanding 5,400 10.0% (3) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $ 1,170 prior to the adjustment (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry\" for the account titles and enter 0 for the amounts.) Account Tles and Explanation Debit Credit i ' i i i i i i i i i (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $4,150 prior to the adjustment. (Round answers to 0 decimal places, e3. 8,971. Credit account titles are automatically indented when Windows ink Ii'EE Question 1 of5 / 2 E Over 120 days outstanding 5,400 10.0% (a) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a credit balance of $ 1,170 prior to the adjustment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select \"No Entry\" for the account titles and enter 0 for the amounts.) Aooount Titles and Explanation Debit Credit (b) Prepare the year-end adjusting entry for bad debt expense, assuming allowance for doubtful accounts had a debit balance of $4,150 prior to the adjustment. (Round answers to 0 decimal places, e3. 8, 971. Credit account titles are automatically indented when amount is entered, Do not indent manually. if no entry is required, select "No Entry\" for the account titles and enter 0 for the amounts.) Aooount Tres and Explanation Debit Credit eTextbook and Media Save for Later Attempts: 0 of 3 used