30 30 Exercise 7-14 (Algo) Percent of receivables method LO P3 Part 2 of 2 2.7 points 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 $13,100 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 $2,100 debit. 01:28:48 Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Req B and C 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 $13,100 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 $2,100 debit. No 1 Date Dec 31 Bad debts expense General Journal Allowance for doubtful accounts 2 Dec 31 Bad debts expense Allowance for doubtful accounts < Req A Req B and C > Show less Debit Credit 18,150 18,150 33,350 33,350