20. Patel Co. sells Christmas angels. Patel determineivable the following aging schedule of Accounts t Ta Customer DV Famer NJ Bell otal eceivable Not Yet 1-30 31-60 300 150 100 100 JC Net % unollatible 10% 196 otal Estimated? ble Compute the balance is the f December. (The owance account based on the above information at the balan (5 points ning balance in the allowance account is $50 credit.). he balance in the account should be 5 poin enece essary adjusting entry at December 31th is icate in which journal each of the following transactions is recorded Cash purchase of merchandise Owner investment of cash Sale ofmerchandise on account Purchase of supplies for cash Credit ourchase of merchandise