29 Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Part 1 of 2 Total 0 Accounts receivable Percent uncollectible $ 580,000 $ 398,000 1 to 30 $ 92,000 Days Past Due 31 to 60 61 to 90 Over 90 $ 38,000 $ 20,000 $ 32,000 38 4% 78 98 128 03:32:30 a. Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. 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 $3,800 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. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the table below to calculate the estimated balance of Allowance for Doubtful Accounts using aging of accounts receivable. Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Accounts Receivable Percent x Uncollectible (%) Estimated Uncollectible = = x x = X x Estimated balance of allowance for uncollectibles < Req A Req B and C > ! 30 Part 2 of 2 Required information [The following information applies to the questions displayed below.] Daley Company prepared the following aging of receivables analysis at December 31. Total 0 Accounts receivable Percent uncollectible $ 580,000 $ 398,000 1 to 30 $ 92,000 Days Past Due 31 to 60 $ 38,000 61 to 90 $ 20,000 Over 90 $ 32,000 38 4% 78 98 128 03:32:19 a. Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables 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 $12,200 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 $1,200 debit. Complete this question by entering your answers in the tabs below. Req A Req B and C Estimate the balance of the Allowance for Doubtful Accounts assuming the company uses 5% of total accounts receivable to estimate uncollectibles, instead of the aging of receivables method. Estimated balance of allowance for uncollectibles < Req A Req B and C >