Tolco Importers Inc. had the following balances at December 31, 2017, before the year-end adjustments:

1. Journalize Tolco Importers Inc.'s entry to adjust the Allowance account to its correct balance at December 31, 2017.
2. Prepare the T-account for Allowance for Doubtful Accounts.
3. Repeat question 1 assuming that, instead of aging the accounts, the allowance is calculated as 3.5 percent of the Accounts Receivable balance.

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Accounts Receivable 148,000 Allowance for Doubtful Accounts 4,000 The aging of accounts receivable yields these data: Age of Accounts Receivable 0-60 Days Over 60 Days Total Receivables $140,000 3% $8,000 20% Accounts receivable $148,000 Percent uncollectible