15 points: % AGING OF A/R Use the AR Aging Table below to answer the questions related to adjusting ADA on the % Aging Method: Customer customer 1 customer 2 Current 30+ days 60+ days 90+ days 120+ days Total $40,000 $20,000 $10,000 $70,000 $60,000 $30,000 $6.000 $5,000 $101,000 $80.000 $30,000 $4.000 $114.000 customer 3 $10,000 $10,000 $5,000 $285,000 TOTALS $180,000 $80,000 % 1% 3% Uncollectable 8% 10% 20% ***REQUIRED A) Show how the Balance Sheet Presentation (partial only) of AR and ADA based on the % Uncollectable Method and the amounts in the table above. Please show your calculations! B) Prepare the Journal Entry (in proper form) if the UNADJUSTED Balance of ADA (just before the needed adjustment) is a $3,000 CREDIT Balance C) Prepare the Journal Entry in proper form) in the UNADJUSTED Balance of ADA (just before the needed adjustment) is a $2,000 DEBIT Balance Note: B&C are separate situations. You are to prepare the journal needed for each individually. T Accounts may be helpful, but not required. AR Aging : Days Past Due A) Show your calculations and complete the required information from the exam: B) Determine the journal entry needed based on the information given in the exam ACCOUNT DEBIT CREDIT C) Determine the journal entry needed based on the information given in the exam ACCOUNT DERIT CROT