1. Kiley Company had a $700 credit balance in Allowance for Doubtful Accounts (What is normal balance for the contra asset? Debit or Credit) at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimate d Percentage Uncollectible Current Accounts$120,000196 1-30 days past due12,000396 31-60 days past due10,00089 61-90 days past due5,00017% Over 90 days past due_8.000409 Total Accounts Receivable$155.000 Instructions (a) Calculate the balance for the Allowance for Doubtful Accounts. (b) Prepare the adjusting entry on December 31, 2020, to recognize bad debts expense. (c) Calculate the net realizable value after your adjusting entry for December 31, 2020. 2. STROUP Supply Co. has the following transactions related to notes receivable during the last 2 months of 2015 Nov Loaned $5,000 cash to Jorge Perez on a 6 month note, 4% Dec. 16 Received a $4,000, 6 month, 9% note in exchange for Weinberg's outstanding accounts receivable. Dec. 31 Accrued interest revenue on all notes receivable. a) Prepare the three journal entries required for the transactions for Stroup Supply Co