16:14 Points) Company also use the Analysis of Receive meth However, Management has asked us to take a look at the Income Statement le petite change the Uncollectible Percentages for Each Budget of Aging The aging schedule looks like the following Customer Total Due Current 1-60 Past Due 61.Past Due 1,000 B c D E 1.000 1.500 800 2.000 500 1,500 800 2.000 500 Total: 5,800 2,800 1,000 2,000 Aging Category As Is Proposed Current (Not past due) 2; 83% = 84 2.Eoo 2% 56 1 - 60 past due 1.000 5% = 50 1,000 4%= 40 61+ days past due 180 270008% = 160 The balances in the accounts before any adjustments are as follows She Sales are $400,000. Allowance for Doubtful Accounts has a Credit balance of $250, and bad debt expense has a debit balance of $2,000 2,000 9% What would be the adjusting entry under the As Is Calculation? You may omit the date, account numbers and descriptions in the journal entry. What would be the adjusting entry under the Proposed Calculation?: You may omit the date, account numbers and descriptions in the journal entry. Adjusting Entry under As Is? Dr. Baddebt expense 64 Cr. Allonance 64 Allenance 64 250 314 Allowance Adjusting Entry under Proposed? Dr. Bad debt expense 6 cr. Allonance 6 61 250 256 17: (2 Points) If the Company changes from the As Is percentages to the Proposed Percentages, what happens to Net Income on the Income Statement? Make sure to indicate if the change results in lift to Net Income or a reduction to Net Income. we explorn what happear Prom question 16 Impact to Net Income: 2