0 Required Information Use the following Information for the Exercises 13-14 below. (Algo) [The following Information applies to the questions displayed below) Doley Company prepared the following aging of receivables analysis at December 31, Days PD Total 1 10 30 31 to 60 61 to Do Accounts receivable 350500001000 05.000 $41000 122.000 Percent of 3% 4% 7X 9 Dver $35.000 12 Exercise 7-14 (Algo) Percent of receivables method LO P3 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. b. Prepare the adjusting entry to record Bed Debts Expense using the estimate from port & Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,500 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,500 debit. Complete this question by entering your answers in the tabs below. Rega Reg Band Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles KA Req Band > Reg A Reg Band b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $12,500 credit. c. Prepare the adjusting entry to record bad debts expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $1,500 debit. Show less View transaction list Journal entry worksheet