1 8 02:58:07 A summary of Klugman Company's December 31, 2021, accounts receivable aging schedule is presented below along with the estimated percent uncollectible for each age group: Age Group 0-60 days 61-90 days 91-120 days Over 120 days Amount $59,000 21,500 % 0.5 1.0 2,900 10.0 1,200 50.0 The allowance for uncollectible accounts had a balance of $1,390 on January 1, 2021. During the year, bad debts of $740 were written off. Required: Prepare all journal entries for 2021 with respect to bad debts and the allowance for uncollectible accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 6 02:57:10 During Burns Company's first year of operations, credit sales totaled $174,000 and collections on credit sales totaled $122,000. Burns estimates that bad debt losses will be 1.0% of credit sales. By year-end, Burns had written off $470 of specific accounts as uncollectible. Required: 1. Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. 2. Show the year-end balance sheet presentation for accounts receivable. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare all appropriate journal entries relative to uncollectible accounts and bad debt expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)