2. Assume that December 31 forecast shows the estimated uncollectible accounts to be $27,860 for the next year. The Allowance for Doubtful Accounts current shows a debit balance of $1,575 also on December 31. Journalize the adjusting entry to update the Allowance for Doubtful Accounts for the new year using the "Analysis of Receivables" method. 3. Assume that December 31 forecast shows the estimated uncollectible accounts to be $27,860 for the next year. The Allowance for Doubtful Accounts currently shows a credit balance of $1,575 also on December 31. Journalize the adjusting entry to update the Allowance for Doubtful Accounts for the new year using the "Analysis of Receivables" method. BAD DEBT EXERCISES 1. Using allowance method for uncollectible accounts, prepare journal entries for December 31, 2009, May 11, 2010 and June 12, 2010, as follows: On December 31, 2009, when its Allowance for Doubtful Accounts has a credit balance of $1,000, CD Discs estimates that 12% of its accounts receivable balance of $60,000 will become uncollectible. Records the necessary adjustment to Allowance for Doubtful Accounts. On May 22, 2010, CD Discs determined that Robert Worthy's account was uncollectible and wrote off $900. Record the journal entry. On June 12, 2010, Worthy paid the amount previously written off. Record the journal entries