#5 33 34 The following information relates to Jennifer's Gemelli, Inc. for the year ended December 31, 2021: Jan. 1st balance in "Allowance for Doubtful Accounts Write-offs for the year Reinstatements for the year Credit Sales for the Year Estimated % credit sales believed to be uncollectible Estimated amount of accounts deemed uncollectible calculated using an aging of Dec. 31st accounts receivable Dec. 31st balance in "Accounts Receivable" The account DEBITED for reinstatement entries occurring during 2021 is The account DEBITED for the write-off entries during 2021 is page 4 $152,000 $158,000 $1,000 $ 24,500,000 0.60% $150,000 $2,300,000 35 The balance (indicate amount AND Dr. or Cr.) in the allowance account prior to adjustment on December 31, 2021 is Questions 36 through Assume the company uses the "aging or analysis of 36 accounts receivable" to account for bad debts. The account CREDITED for the December 31, 2021 adjusting entry is 37 The amount of the December 31, 2021 adjusting entry is 38 The balance in the "allowance for doubtful accounts" after adjustment is 39 40 40 41 12 42 43 43 The expected realizable value at December 31, 2021 is Questions 40 through Assume the company uses the "% of credit sales method" to account for bad debts: The account Debited for the December 31, 2021 adjusting entry is The amount of the December 31, 2021 adjusting entry is The balance in the "allowance for doubtful accounts" after adjustment is The expected realizable value at December 31, 2021 is 39 43