Template down below

On November 20, Year 9, Olaf Co. wrote off the $3,000 account receivable of Bad Co. Before that November 20 journal entry, the balance of allowance for doubtful accounts was a credit of $2,000. Between November 20 and December 31, Year 9, there n10 other transactions affecting allowance for doubtful accounts. Year end is December 31. Olaf Co. uses the balance sheet aging of receivables method for estimating bad debts. Sales on account were $3,000,000. An aging of the accounts receivable revealed the following: Required a. Calculate the estimated total amount uncollectible using the aged accounts receivable above. b. Record the November 20 transaction. c. Record the adjusting entry for bad debts expense for Year 9 . d. Assume now that Olaf Co. uses the percentage of sales method. Net credit sales are $3,000,000. They believe that 0.5% of the sales will become bad debts. The allowance for doubtful accounts had a $900 credit balance before the current year's provision for uncollectible accounts. Prepare the adjusting entry for the current year's provision for uncollectible accounts. Date Account Debit Credit