6. Molina Company had a $700 credit balance in Allowance for Doubtful Accounts at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Accounts Receivable Amount Estimated Percentage Uncollectible 1% 3% Status Current Accounts 130 days past due 31-60 days past due 6190 days past due Over 90 days past due Total Accounts Receivable 6% $120,000 20,000 10,000 10,000 8,000 $168,000 12% 30% Instructions a. Determine the total estimated uncollectibles. $ b. Prepare the adjusting entry on December 31, 2020, to recognize bad debt expense. Date Account Debit Credit C. Determine net accounts receivable at the end 2020. $ 7. Morton Company had the following select transactions. 2020 4/1 Accepted Remington Company's 1-year, 12% note in settlement of a $25,000 account receivable. 7/1 Loaned $15,000 cash to Jenny Green on a 9-month, 10% note. 12/31 Accrued interest on all notes receivable. 2021 4/1 Received principal plus interest on the Remington note. 4/1 Jenny Green dishonored its note: Morton expects it will eventually collect. Instructions Prepare journal entries to record the transactions. Morton prepares adjusting entries once a year on December 31. Date Account Debit Credit