View Policies Current Attempt in Progress Presented belowis information related to the Accounts Receivable accounts of Gulistan Inc during the current year 2020. 1. An aging schedule of the accounts receivable as of December 31, 2020. is as follows. Net Debit Balance $172,342 % to Be Applied after Correction Is Made 196 Age Under 60 days 60-90 days 91-120 days Over 120 days 136.490 3% 39,924 23,644 6% $3.700 definitely uncollectible: estimated remainder uncollectible is 25% $372.400 "The $3.240 write-off of receivables is related to the 91-to-120 day category 2. The Accounts Receivable control account has a debit balance of 5372.400 on December 31, 2020. 3. Two entries were made in the Bad Debt Expense account during the year: (1) a debit on December 31 for the amount credited to Allowance for Doubtful Accounts, and (2) a credit for $3,240 on November 3, 2020, and a debit to Allowance for Doubtful Accounts because of a bankruptcy. 4. Allowance for Doubtful Accounts is as follows for 2020. Allowance for Doubtful Accounts Nov. 3 Uncollectible accounts written off 3.240 Jan. 1 Beginning balance 8.750 Dec 31 5% of $372,400 18.620 5. A credit balance exists in Accounts Receivable (60-90 days) of $4,840, which represents an advance on a sales contract Assuming that the books have not been closed for 2020, make the necessary correcting entries. (Round answers to decimal places, es 5,275.If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account tities are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec 31 2020 (To correct bad debt expense and write off accounts receivable) Dec 31. 2020 (To redassify credit balance in accounts receivable) Dec. 31. 2020 (To write off uncollectible accounts) Dec 31. 2020 (To reduce allowance for doubtful account balance)