2. Duncan had an outstanding Account receivable of $550,000 aged as Shawn in the table Account receivable Age of Account Expected % $120000 $50000 $25000 $12000 Not yet due to 30-day delay 31-60days More than 60da 13% 5.5% 14% 45% During the year of 2014, the company had sales of $ 4,780,000 of which $49500 were cash sales. The allowance of doubtful account had an unadjusted debt balance of $3500. Prepare the adjusted entry to estimate non- collectable accounts under each of the following independent adjustments. a. b. C. Bad debts are estimated to be 5% of outstanding account receivables Bad debts based on Aging Analysis. Bad debts estimated at 0.75% of the credit sales? Mark Jameson from Toronto Ontario wrote a promissory note to pay the utilities corporation an amount of $1250 in a period after 2 months. The note was issued on November 15 at Royal Bank of Canada bank in down town and was scheduled for January 14 of the following year. The Note was set with an interest rate of 8% per annum