5. S&R Company uses the aging of accounts receivable approach to estimate bad debt expense. On December 31, 2020, an analysis of accounts receivable revealed the following (14 marks): Schedule of Accounts Receivable by Age December 31, 2020 Accounts Receivable Age of Accounts Receivable Expected Percentage Uncollectible Allowance for doubtful accounts 140,000 Not yet due 0.75% 4% 10% 60,000 1-30 days past due 19,000 31-60 days past due 5,000 61-90 days past due 7,000 Over 90 days past due 60% 90% Required: (a) Calculate the amount of allowance for doubtful accounts that should be reported on the balance sheet at December 31, 2020, (b) Calculate the amount of bad debts expense that should be reported on the 2020 income statement, assuming that the balance of Allowance for Doubtful Accounts on January 1, 2020 was $44,000 (credit balance) and accounts receivable written off during the year totaled $49,200. (c) $15,000 of the accounts receivable written off was collected (d) Present the appropriate general journal entry to record bad debts expense on December 31, 2020. (e) Show how accounts receivable will appear on the balance sheet at December 31, 2020