1. Arrowsmith Company uses the balance sheet approach to estimate bad debts. Details of the accounts receivable balances outstanding on dec. 31 are as follows: Age under 30 31-60 61-90 91-120 121+ Total Uncollectible percentage 1% 5% 10% 20% 50% Balances $100,000 $20,000 S40,000 $80,000 $120,000 $360,000 (A) Calculate the required allowance (AFDA): Age Uncollectible percentage under 30 1% 31-60 5% 61-90 10% 91-120 20% 121+ 50% Total Required Balances Allowance $100,000 $20,000 $40,000 $80,000 $120,000 $360,000 (B) Complete the journal entry to record bad debt expense for the year, assuming that the allowance account has a $10,000 Debit balance... Date Dec. 31 Debit Credit Account Title Bad Debts Expense Allow. For Doubtful Accounts (C) Complete the journal entry to record bad debt expense for the year, assuming that the allowance account has a $12,000 Credit balance... Debit Credit Date Account Title Dec. 31 Bad Debts Expense Allow. For Doubtful Accounts (D) Complete the journal entry to record bad debt expense for the year, assuming that the allowance account has a zero balance... Date Dec. 31 Debit Credit Account Title Bad Debts Expense Allow. For Doubtful Accounts 25 points