2) Bonita Company estimates uncollectible accounts using the allowance method at

December 31. It prepared the following aging of receivables analysis.

a. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method.

b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $550 credit.

c. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $300 debit.

2) Bonita Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis. Total Current Days 1 to Past 31 Due 61 to Over 90 30 to 60 90 Accounts $ 68,000 17,000 10,000 8,000 7,000 receivable 110,000 Percent 18 28 58 8% 13% uncollectible a. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method. b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $550 credit. c. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the Allowance for Doubtful Accounts is a $300 debit